On Monday evening, the Monetary Authority of Singapore (MAS) suddenly issued a press release to broaden the existing exemption from the Total Debt Servicing Ratio (TDSR) rules introduced in June last year. Fine-tuning financing restrictions a norm? Financing restrictions introduced by MAS under the context of prudent borrowing are usually made effective the following day. However, it is not uncommon to see subsequent fine-tuning after the announcement. Motor vehicle loan is a good example: - On 25 February 2013, MAS imposed financing restrictions on car loans that cap maximum loan-to-value to 50 or 60 percent and loan tenure to five years. - On March 8, after “carefully considered the feedback received from different groups”, the physically disabled and their caregivers are exempted from such restrictions. - On April 5, after “taking into account the distinct conditions in the used car market”, a grace period of 60 days was granted for ......