The Monetary Authority of Singapore (MAS) has released a consultation paper proposing new financial regulations for all Real Estate Investment Trusts (REITs). Key among the changes is setting a universal minimum Interest Coverage Ratio (ICR) of 1.5 times across all REITs, a reduction from the current 2.5 times required for REITs seeking to increase leverage from 45% to 50%. Additionally, MAS plans to standardise the aggregate leverage limit at 50% for all REITs, aimed at maintaining financial stability within the sector. The proposal also includes a requirement for REITs to conduct and publish sensitivity analyses reflecting potential impacts of EBITDA and interest rate fluctuations on their ICRs in both interim and annual financial statements. MAS is seeking feedback on these proposals until August 23, 2024.