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- Media Releases
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- These include: A Fintech Cooperation Agreement (CA) between PBC and MAS.
- MAS and CSRC will also coordinate with each other on the listing and trading of exchange-traded derivatives products with nexus to each other’s capital markets. 5 Mr Ravi Menon, Managing Director, MAS said: “This week’s signing of agreements between the financial regulators of China and Singapore bears
- UnionPay currently serves the world’s largest card base, where its partners have issued over 7 billion cards globally. 4 On the regulatory front, the Monetary Authority of Singapore (MAS) concluded and exchanged cooperation agreements with the People’s Bank of China (PBC) and the China Securities Regulatory
- MAS
- Media Releases
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- Singapore, 8 March 2013...The Monetary Authority of Singapore (MAS) will exempt borrowers who are physically disabled or who are caregivers of the physically disabled from the financing restrictions on motor vehicle loans granted by financial institutions (FIs).
- Exempting the Physically Disabled 2 On 25 February 2013, MAS announced financing restrictions on motor vehicle loans granted by FIs. 1 MAS has carefully considered the feedback received from different groups and has decided to exercise flexibility for the physically disabled and their caregivers, by
- MAS will also take into account the depreciation in the value of a used motor vehicle in determining the applicable loan-to-value ratio limit.
- MAS
- Media Releases
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- MAS invites interested parties to submit their comments on the proposals by 21 December 2022. ***
- Singapore, 26 October 2022… The Monetary Authority of Singapore (MAS) today published two consultation papers proposing regulatory measures to reduce the risk of consumer harm from cryptocurrency trading and to support the development of stablecoins as a credible medium of exchange in the digital asset
- MAS will regulate the issuance of stablecoins which are pegged to a single currency (“SCS”) where the value of SCS in circulation exceeds S$5 million. The key proposed issuer requirements relate to – • Value Stability.
- MAS
- Media Releases
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- The Monetary Authority of Singapore (MAS) today issued guidelines to strengthen the accountability of senior managers in key functions in financial institutions (FIs) and to promote ethical behaviour in FIs.
- Read the Frequently Asked Questions and/or approach your MAS supervisor
- MAS has in place existing legislation and guidelines that address many elements of these jurisdictions’ accountability and conduct regimes.
- MAS
- Circulars
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- MAS will continue to monitor individual FIs progress in preparing for the 3 SC-STS is an industry-led committee established by MAS to provide strategic direction and oversee the transition from SOR to SORA.
- Circular Reference: ID 32/20 1 September 2020 To Chief Executives All Licensed Insurers Dear Sir/Madam PREPARATION FOR LIBOR DISCONTINUATION: ENHANCING CONTRACTUAL ROBUSTNESS The Monetary Authority of Singapore (MAS) expects financial institutions (FIs) in Singapore to be prepared
- MAS has also started publishing compounded SORA rates and commenced issuance of SORA-based floating rate notes to facilitate the broader user of SORA. 6 discontinuation of LIBOR and SOR.
- MAS
- Media Releases
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- Singapore, 6 July 2022… The Monetary Authority of Singapore (MAS) and the Institute of Banking and Finance (IBF) today announced changes to provide more targeted support under the IBF training schemes.
- With the economy and financial sector transitioning to a post-pandemic era, MAS will adjust funding support allocated to the IBF-Standards Training Scheme (IBF-STS) and Financial Training Scheme (FTS).
- The grant cap on these subsidies will be revised to S$500 (from S$2,000) per participant per programme. 3 These changes will better enable MAS to continue with increased funding support in growth and priority areas.
- MAS
- Media Releases
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- MAS welcomes this development.
- As requested by MAS, AIA has also issued a public statement to explain fully and clearly the revised support package and adjudication process. 4 MAS is of the view that the improved support package and adjudication process announced today warrant careful consideration by affected policyholders and
- Singapore, 14 Oct 2003...Over the last few months, MAS has received complaints from the public about life insurance policies with Critical Year features.
- MAS
- Media Releases
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- Copenhagen, 29 June 2017… The Monetary Authority of Singapore (MAS) and the Danish Financial Supervisory Authority (Danish FSA) yesterday signed a FinTech Co-operation Agreement which aims to help FinTech companies in Singapore and Denmark to expand into each other’s markets.
- Financial innovation is not confined to national borders, and we are therefore delighted to enter into this agreement with MAS. This agreement will ensure cooperation between the Danish FSA and MAS and will foster opportunity for businesses in Denmark and Singapore to grow.”
- Sopnendu Mohanty, Chief FinTech Officer, MAS, said: “Singapore and Denmark are important gateways to their surrounding regions. This cooperation agreement signifies the commitment of MAS and Danish FSA to promoting innovation in financial services and growing the FinTech landscape.
- MAS
- Media Releases
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- Singapore, 29 May 2019…In response to media queries on the US Treasury Report on Macroeconomic and Foreign Exchange Policies (UST Report) released today, the Monetary Authority of Singapore (MAS) said that it does not manipulate its currency for export advantage. 2 MAS reiterated that Singapore’s
- A deliberate weakening of the Singapore dollar would cause inflation to spike and compromise MAS’ price stability objective. 4 Singapore’s current account balance should be viewed in context.
- As pointed out in the UST Report, MAS manages the Singapore dollar nominal effective exchange rate (S$NEER) within a policy band, just as other central banks conduct monetary policy by targeting interest rates.
- MAS
- Media Releases
Last revised date:
- Shanghai, 31 October 2018… The Monetary Authority of Singapore (MAS) and the China Securities Regulatory Commission (CSRC) affirmed their commitment to strengthen supervisory cooperation and enhance financial connectivity between the capital markets of both countries, at the 3rd MAS-CSRC Supervisory
- Roundtable held on 24 October 2018. 2 The Roundtable was co-chaired by MAS’ Deputy Managing Director Mr Ong Chong Tee and CSRC’s Vice Chairman Mr Fang Xinghai.
- With increased cross-border capital market activities, MAS and CSRC acknowledge the importance of improving regulatory coordination and ensuring the financial stability of our capital markets.