Singapore: Design requirements in MAS artificial intelligence model risk management observations for financial institutions
Progress
Current status
adopted
05 Dec 2024 adopted
Scope
Implementers
Singapore
Policy Area
Design and testing standards
Policy Instrument
Design requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
other service provider
Government Branch
executive
Government Body
other regulatory body
Implementation Level
national
Timeline of events
Adopted MAS artificial intelligence model risk management observations for financial institutions including design requirements
On 5 December 2024, the Monetary Authority of Singapore (MAS) published a review of observations on the risk management of artificial intelligence models for financial institutions. The review identifies principal practices for the management of AI-…
SourceEvent type
outline
Action type
adoption
Government branch
executive
Government body
other regulatory body