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- Media Releases
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- The Monetary Authority of Singapore (MAS) announced today that the mandate of the Steering Committee for SOR Transition to SORA (Committee) will be expanded to enable it to oversee the interest rate benchmark transition from SIBOR to SORA.
- The Committee will be renamed as the Steering Committee for SOR & SIBOR Transition to SORA (SC-STS). 2 Comprising senior representatives from key banks in Singapore, relevant industry associations, and MAS, the Committee was established by MAS in August 2019 to oversee the SOR transition to SORA, and
- The industry today published a response to the feedback received, noting strong support from bank and non-bank respondents, and setting out the key timelines for SIBOR discontinuation by end-2024. *** Monetary Authority of Singapore 10 Shenton Way MAS Building Singapore 079117 Telephone: (65) 6225
- MAS
- Media Releases
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- The framework builds on MAS’ existing supervisory impact assessment methodology.
- Singapore, 30 April 2015 … The Monetary Authority of Singapore (MAS) today published its framework for identifying and supervising domestic systemically important banks (D-SIBs) in Singapore, and the inaugural list of D-SIBs. 2 D-SIBs are banks that are assessed to have a significant impact on the
- MAS will allow a transition period for affected banks to comply with the requirements that are currently not in effect, such as the local incorporation requirement. 4 MAS has designated the following banking groups as D-SIBs 2 : DBS Bank; Oversea-Chinese Banking Corporation; United Overseas Bank; Citibank
- MAS
- Media Releases
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- About Monetary Authority of Singapore The Monetary Authority of Singapore (MAS) is Singapore’s central bank and integrated financial regulator.
- New York/Singapore, 11 November 2022… The Federal Reserve Bank of New York’s New York Innovation Center (NYIC) and the Monetary Authority of Singapore (MAS) today announced Project Cedar Phase II x Ubin+, a joint experiment to investigate how wholesale central bank digital currencies (wCBDCs) could improve
- MAS also works with the financial industry to promote Singapore as a dynamic international financial centre. It facilitates the development of infrastructure, adoption of technology, and upgrading of skills in the financial industry.
- MAS
- Speeches
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- They are testing this out in MAS’ regulatory sandbox. Imagine a world where financial advice is integrated .
- Last year, MAS and the industry also began collaborating with MIT Media Lab to do serious FinTech R&D . MAS, industry professionals, and MIT researchers have come together towards developing prototypes that look into applications of AI and distributed ledger technology in the financial sector .
- Second, MAS is working with like-minded central banks to explore faster, cheaper, and more efficient cross-border payments . MAS, together with the Bank of Canada, the Bank of England and various commercial banks, did an in-depth study of the inefficiencies of today’s international payment systems.
- MAS
- Speeches
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- MAS has been working closely with the industry to help bring this about.
- This was why MAS introduced the Financial Advisers Act, or FAA, ten years ago.
- MAS will work to ease the transition for those most affected by the changes.
- MAS
- Consumer Price Developments
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- MAS Core Inflation The Monetary Authority of Singapore (MAS) monitors a core inflation measure that excludes the components of Accommodation and Private Road Transport.
- Source: MAS, MTI estimates * Categories below the dotted line are excluded from the MAS Core Inflation series.
- MAS Core Inflation eased to 2.7% in April Excluding the costs of accommodation and private road transport, MAS Core Inflation edged down from 2.9% in March to 2.7% in April, led by lower services and food inflation.
- MAS
- Consumer Price Developments
Last revised date:
- MAS Core Inflation The Monetary Authority of Singapore (MAS) monitors a core inflation measure that excludes the components of Accommodation and Private Road Transport.
- Source: MAS, MTI estimates * Categories below the dotted line are excluded from the MAS Core Inflation series.
- MAS Core Inflation eased to 2.7% in April Excluding the costs of accommodation and private road transport, MAS Core Inflation edged down from 2.9% in March to 2.7% in April, led by lower services and food inflation.
- MAS
- Speeches
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- MAS will study extending our ILS grant scheme beyond end-2020. Fourth, green funds 59. MAS will launch a US$2 billion Green Investments Programme (GIP). 60.
- Global regulators, including MAS are intensifying their supervisory focus in this area. MAS is working with our counterparts to enhance global practices in environmental risk management and disclosures.
- MAS will develop incentives to encourage growth in green and sustainability-linked loans. In order to access lending, firms will need to incur costs to develop sustainability frameworks, and engage external reviewers. MAS will develop grant schemes to help defray these costs for businesses.
- MAS
- Guidelines
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- After submission, FIs may view a record of their submission by logging into MAS-Tx .
- CRITERIA FOR LICENSING 1 -------- A REIT manager should satisfy MAS that it will discharge its duties, efficiently, 2.2 honestly and fairly. 2.3 A REIT manager should satisfy MAS that its substantial shareholders, directors, representatives and employees, as well as the REIT manager itself
- Letter of Responsibility / Letter of Undertaking 2.17 MAS may, pursuant to section 88 of the SFA, impose a condition requiring the REIT manager to procure a Letter of Responsibility1 or a Letter of Undertaking2 (in a form satisfactory to MAS) from its controlling shareholder or parent company.
- MAS
- Media Releases
Last revised date:
- About Monetary Authority of Singapore (MAS) As Singapore's central bank, MAS promotes sustained, non-inflationary economic growth through appropriate monetary policy formulation and close macroeconomic surveillance of emerging trends and potential vulnerabilities.
- With its mandate to foster a sound and progressive financial services sector, MAS also helps shape Singapore's financial industry by promoting a strong corporate governance framework and close adherence to international accounting standards.
- MAS ensures that Singapore's financial industry remains vibrant, dynamic and competitive by working closely with other government agencies and financial institutions to develop and promote Singapore as a regional and international financial centre.