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- MAS
- Notices
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- Requirements that banks incorporated in Singapore must comply with when issuing covered bonds. This notice applies to all banks incorporated in Singapore. It sets out the requirements that banks have to comply with when issuing covered bonds. These include: Cover pool assets and encumbrance limit. Risk management requirements. Notification and other requirements. Amendment Notes 1 Jul 2022 MAS Notice 648 (Amendment) 2022 (524.2 KB) takes effect. 28 Sep 2021 MAS Notice 648 (Amendment) 2021 (61.8 KB
- MAS
- Explainers
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- When granting a housing loan, financial institutions (FIs) should base the loan amount on the residential property's adjusted purchase price, which is the price after the deduction of any discounts, rebates or other benefits. Deducting Discounts, Rebates or Benefits When arriving at the adjusted purchase price of a residential property, financial institutions (FIs) must: Deduct any discount, rebate or any other benefit offered by any party, whether directly or indirectly, arising from and resulting
- MAS
- Media Releases
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- Singapore, 3 November 2020… The Monetary Authority of Singapore (MAS) announced today that it plans to discontinue the issuance of the $1,000 note from 1 January 2021. From now until December 2020, a limited quantity of $1,000 notes will be made available each month. 2 This is a pre-emptive measure to mitigate the higher money laundering and terrorism financing (ML/TF) risks associated with large denomination notes. The move is aligned with international norms and major jurisdictions have already
- MAS
- Annual Reports
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- The Annual Report outlines MAS' activities and achievements in FY 2020/2021. It also includes MAS’ financial statements and a message from Mr Tharman Shanmugaratnam, Chairman, MAS. Download the Financial Statement 2020/2021 (600.9 KB) Media Conference Ravi Menon, Managing Director of MAS, spoke on the global and domestic economic outlook, financial stability, financial sector performance and MAS' financial operations at the Annual Report media conference, 30 June 2021. Read the full speech Watch
- MAS
- Media Releases
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- Singapore, 16 June 1999...Singapore successfully completed its part in the Global Payment Systems Test (GPST) initiated by the New York Clearing House (NYCH) on 13 June 1999. This is a global test involving 34 national and international payments systems and networks to demonstrate the safe transfer of funds across the world for the Year 2000. "This is a significant milestone in our preparations for year 2000. We are very pleased that our part in the GPST was a success as this indicates that Singapore's
- MAS
- Consultations
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- Consultation Paper Annex 1 Recommendations of the Debt Capital Market Working Group & Response by the Monetary Authority of Singapore (MAS) Group's Observations & Recommendations / MAS' Comments [A]Boosting the Singapore Government Securities (SGS) market. (i) Creating the Benchmark The issue of 10-year maturity SGS bonds as well as the commitment to issue more SGS to create a free float over and above the banks' captive requirement is commendable. To create a greater liquid
- MAS
- Notices
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- Requirements for merchant banks to comply with the minimum liquid assets (MLA) or the liquidity coverage ratio (LCR). This notice applies to all merchant banks in Singapore. It sets out the minimum liquid assets (MLA) requirements and the liquidity coverage ratio (LCR) requirements that a merchant bank has to comply with. Amendment Notes 01 Jul 2022 MAS Notice 1015 (Amendment) 2022 (778.7 KB) dated 24 June 2022 takes effect. 28 Sep 2021 MAS Notice 1015 (Amendment) 2021 (149 KB) dated 27 September
- MAS
- Circulars
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- Sets out the classification of tax liabilities arising from non-guaranteed benefits of participating policies. Circular No. ID 02/08 18 Feb 2008 To Principal Officers All Direct Life and Composite Insurers Dear Sir/Madam CLASSIFICATION OF TAX LIABILITIES ARISING FROM NON-GUARANTEED BENEFITS OF PARTICIPATING POLICIES Under the Insurance (Valuation and Capital) Regulations 2004 (the V&C Regulations), the allowance for provision for non-guaranteed benefits of participating
- MAS
- Consultations
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- Response VIEW DOCUMENT Response to Feedback: Consultation on Amendments to the Monetary Authority of Singapore Act (137.7 KB) Consultation Paper VIEW DOCUMENT Consultation Paper on Proposed Amendments to the Monetary Authority of Singapore Act December 2012 (1.27 MB) RESPONSE TO FEEDBACK RECEIVED CONSULTATION ON AMENDMENTS TO THE MONETARY AUTHORITY OF SINGAPORE ACT Institutions Introduction the Financial 1 1.1 In December 2012, the Monetary Authority of Singapore (MAS) issued
- MAS
- External Publications
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- Guidance for banks, merchant banks and finance companies on AML/CFT controls in trade finance and correspondent banking. Monetary Authority of Singapore km GUIDANCE ON ANTI-MONEY LAUNDERING AND COUNTERING THE FINANCING OF TERRORISM CONTROLS IN TRADE FINANCE AND CORRESPONDENT BANKING MAS Information Paper October 2015 -------- AML/CFT CONTROLS IN TRADE FINANCE AND CORRESPONDENT BANKING Table of Contents 1 2 INTRODUCTION ...................................................