# AI Risk Management Guidelines for Banks

- Date: 2024-12
- Source: https://www.mas.gov.sg/regulation/notices/notice-fsm-n29
- sgai: https://sgai.md/policies/ai-risk-management-guidelines-for-banks/
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## Why it matters

MAS upgraded years of voluntary supervisory guidance to mandatory standards; third-party AI risks and model drift in banks now have legal basis, with accountability pressure flowing to cloud providers and model suppliers

## Summary

Supervisory expectations document for AI model risk management in the financial sector, formally constraining how banks use AI.