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- the MAS on Singapore's financial sector reforms and strategies.
- Tapping the knowledge and expertise of a distinguished advisory panel gives the MAS a global perspective on financial sector issues, and keeps MAS abreast of market developments and trends in major international financial centres. *** Annex 1 MAS IAP Members and Advisors who attended this year's meeting
- The International Advisory Panel (IAP) of the Monetary Authority of Singapore (MAS) met today and discussed a range of issues including global economic prospects, trends and developments in the global financial services industry, and strategies for developing Singapore's financial sector.
- MAS
- Media Releases
Last revised date:
- Singapore, 14 December 2007…The Monetary Authority of Singapore (MAS) today released Basel II rules in Singapore.
- These processes provided opportunities for the industry to be closely involved from the early stages of policy formulation. 4 The rules and MAS’ responses to the consultation feedback can be found on MAS’ website (181.2 KB) .
- MAS’ minimum Tier 1 and Total Capital Adequacy Ratios (CAR) of 6% and 10%, respectively, remain unchanged. ***
- MAS
- Media Releases
Last revised date:
- The Monetary Authority of Singapore (MAS) has been informed that there are about 1,000 contracts for differences (CFDs) accounts with MF Global Singapore Pte Limited (MFGS) which are active.
- Where appropriate, MAS will assist in communicating with the relevant foreign regulators. 4 MAS has been informed that the counterparty to the CFDs is MF Global Australia.
- They have assured MAS that this will be done as soon as practicable. We understand that the provisional liquidators are taking steps to recall customers’ monies and assets that are held in overseas jurisdictions.
- MAS
- Letters to Editor
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- Dear Editor I refer to "Why MAS should handle complaints, by Leong Kok Ho" (Straits Times Forum, 24 December 2008). MAS understands the anxiety of many investors who have purchased DBS High Notes 5, Lehman Minibond Notes and Merrill Lynch Jubilee Series 3 LinkEarner Notes.
- MAS is also working with the IPs to ensure that any potential FI-wide issues identified in the course of investigations have been incorporated into the assessment of individual complaints. Angelina Fernandez Director (Communications) Monetary Authority of Singapore
- MAS will take firm and appropriate regulatory actions where there are breaches of law or regulations by the FIs or their representatives.
- MAS
- Media Releases
Last revised date:
- Singapore, 19 February 2014… The Monetary Authority of Singapore (MAS) said today that security measures in place for payment cards 1 in Singapore were robust by international standards but card customers should nonetheless take the necessary precautions when using their cards.
- MAS has received confirmation from the banks that most affected customers have been contacted and assured that they would not be liable for the unauthorised charges. 5 MAS advised customers to take the necessary precautions in using their payment cards.
- MAS was responding to media queries about unauthorised online purchases made at a Taiwanese merchant, some of which were made using payment cards issued in Singapore. 2 MAS noted that there has been a rise in incidents of data theft and fraud involving payment cards in many jurisdictions around the
- MAS
- Consultations
Last revised date:
- MONETARY AUTHORITY OF SINGAPORE 11 JUNE 2008 3 -------- CONSULTATION PAPER P015 - 2006 September 2006 Returns on Retail Payment Statistics -------- RETURNS ON RETAIL PAYMENT STATISTICS SEPTEMBER 2006 Returns on Retail Payment Statistics Currently, MAS collects statistics on retail
- MAS Response We accepted the recommendation and have changed the monthly collection to a quarterly one, with quarterly aggregated data. 2.
- Written comments may be submitted to: Payments Infrastructure Division Specialist Risk Supervision Department Monetary Authority of Singapore 10 Shenton Way MAS Building Singapore 079117 1 Entities that are not on MASNET would have to subscribe
- MAS
- Media Releases
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- Borrowers can apply for both the ESS-S and ESS-C from 2 November 2020 onwards. 16 Mr Ravi Menon, MAS Managing Director said, “MAS and the financial industry have put much care in the design of the extended credit support measures.
- Singapore, 5 October 2020… The Monetary Authority of Singapore (MAS), together with the Association of Banks in Singapore (ABS) and the Finance Houses Association of Singapore (FHAS), today announced an extension of support measures to help individuals and Small and Medium-sized Enterprises (SMEs) facing
- . *** Monetary Authority of Singapore 10 Shenton Way MAS Building Singapore 079117 Telephone : (65) 6225-5577 Transition Measures Offered by Banks and Finance Companies Individuals Mortgages Scope of borrowers and loans covered under the transition measures For borrowers who have
- MAS
- Media Releases
Last revised date:
- for 1Q2020 ahead of MAS’ guidance, the dividend restrictions and the offering of dividends in scrip will be extended by an additional quarter until 1Q2021. in shares in lieu of cash Read more on MAS' call on Local Banks to moderate FY2020 dividends at this link , and MAS' call on Finance Companies to
- Singapore, 28 July 2021 … The Monetary Authority of Singapore (MAS) today announced that dividend restrictions on locally-incorporated banks and finance companies headquartered in Singapore (Local Banks and Finance Companies) will not be extended.
- Ms Ho Hern Shin, Deputy Managing Director, MAS said, “Local Banks and Finance Companies have weathered the pandemic well and are in a strong position to support the economic recovery.
- MAS
- Enforcement Actions
Last revised date:
- Singapore, 23 October 2020… The Monetary Authority of Singapore (MAS) has issued lifetime Prohibition Orders (POs) against Mr Kevin Michael Swampillai, a former representative and Head of the Wealth Management Services Department of BSI Bank Limited, Singapore Branch (BSIS) MAS withdrew BSIS’ merchant
- These POs were issued at the conclusion of an investigation conducted by the MAS and took effect on 22 October 2020. 2 From 2012 to 2013, Mr Swampillai and his then subordinate, Mr Yeo Jiawei MAS issued a lifetime PO to Yeo Jiawei on 18 December 2017, following his conviction for charges ranging
- bank licence on 24 May 2016 and also imposed financial penalties amounting to S$13.3 million for breaches of MAS Notice 1014 – Prevention of Money Laundering and Countering the Financing of Terrorism. .
- MAS
- Media Releases
Last revised date:
- for 1Q2020 ahead of MAS’ guidance, the dividend restrictions and the offering of dividends in scrip will be extended by an additional quarter until 1Q2021. in shares in lieu of cash Read more on MAS' call on Local Banks to moderate FY2020 dividends at this link , and MAS' call on Finance Companies to
- Singapore, 28 July 2021… The Monetary Authority of Singapore (MAS) today announced that dividend restrictions on locally-incorporated banks and finance companies headquartered in Singapore (Local Banks and Finance Companies) will not be extended.
- Ms Ho Hern Shin, Deputy Managing Director, MAS said, “Local Banks and Finance Companies have weathered the pandemic well and are in a strong position to support the economic recovery.