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- Media Releases
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- Singapore, 28 May 2020… The Monetary Authority of Singapore (MAS) announced today that the first phase of the Veritas Veritas, which is a part of Singapore’s National AI Strategy, aims to provide financial institutions with a verifiable way to incorporate the FEAT (Fairness, Ethics, Accountability and
- We hope Veritas will speed up the adoption of AI in financial services in the right direction.” *** Monetary Authority of Singapore 10 Shenton Way MAS Building Singapore 079117 Telephone: (65) 6225-5577 1) Amazon Web Services (New member) List of Veritas Consortium Members Annex 4
- The full list of members are listed in the Annex. 7 Mr Sopnendu Mohanty, Chief FinTech Officer, MAS, said, “The responsible use of AI is a prerequisite for the greater adoption of AI in the financial sector.
- MAS
- Media Releases
Last revised date:
- Singapore, 28 July 2015…The Monetary Authority of Singapore (MAS) today announced the composition of the new Financial Centre Advisory Panel (FCAP) comprising 26 leaders from the banking, insurance and asset management industries.
- FCAP will strengthen the dialogue and partnership between MAS and the financial industry, to drive the growth and development of Singapore’s financial centre. 2 The FCAP will provide advice to MAS in two areas: (a) Asset class strategies: Industry leaders will provide advice on strategies to develop
- Members have been appointed for a two-year term. 4 Mr Ravi Menon said, “MAS has a strong tradition of consultation with the financial industry.
- MAS
- Macroeconomic Reviews
Last revised date:
- Economics Department 4 3 M o n e t a r y A u t h o r i t y o f S i n g a p o r e -------- MAS ED Quarterly Bulletin, June 2001 Recent Movements in the MAS Underlying Inflation The MAS underlying inflation rate has, on average, come in lower at 1.3% over the sample period of 1985- 2000, compared
- The MAS Monetary Policy Statement was released on 12 July 2001 and appears in pages ii-v.
- (Box Item 3.1 discusses in greater detail the recent behaviour of the MAS underlying inflation measure.)
- MAS
- Consultations
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- MAS Response MAS Guidelines have been in place since 2005 and the disclosure requirements are not new.
- MAS Response MAS recognizes that the Board and Board Committees of a parent company exercises oversight of the subsidiarys activities.
- This paper summarises the feedback and sets out MAS responses. The list of respondents is at Annex A. MAS has deliberated on the feedback and would like to thank all respondents for their submissions. The final Regulations and Guidelines can be found on MAS website.
- MAS
- Media Releases
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- liquidity from MAS by pledging Japanese government securities with MAS.
- Singapore, 26 July 2013…Bank of Japan (BOJ) and the Monetary Authority of Singapore (MAS) have established a cross-border collateral arrangement to enhance financial stability in Singapore. 2 Under this arrangement, eligible financial institutions operating in Singapore may obtain Singapore Dollar
- This widens the range of acceptable collateral in MAS’ liquidity facility, and permits greater flexibility in the liquidity management of eligible financial institutions, including Japanese banks, operating in Singapore. 3 This collaboration reinforces BOJ and MAS’ commitment to support the long-standing
- MAS
- Media Releases
Last revised date:
- Singapore, 12 November 2018… The Monetary Authority of Singapore (MAS) and Infocomm Media Development Authority (IMDA) are partnering with six private sector partners to create a Proof of Concept (“POC”) hybrid business data and digital solutions hub.
- DBS is excited to be a key partner of this programme, and we look forward to developing the Proof of Concept with MAS and IMDA.
- As Asia’s leading communications technology group, Singtel is pleased to play a key role in this partnership with the MAS and IMDA to help SMEs digitalise.
- MAS
- Monetary Policy Statements
Last revised date:
- MAS Core Inflation, which excludes the costs of private road transport and accommodation, has been subdued.
- MAS Core Inflation is likely to pick up gradually over 2016 as the disinflationary effects of Budgetary and other one-off measures fade.
- MAS Core Inflation should also pick up more gradually over the course of 2016 than previously anticipated, and is now likely to fall below 2% on average over the medium term. 12. MAS will therefore set the rate of appreciation of the S$NEER policy band at zero percent, beginning 14 April 2016.
- MAS
- Speeches
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- But overall, MAS is undiminished in its optimism and confidence in the prospects for the financial industry in Singapore.
- Especially useful was the electronic trading infrastructure for FX, which MAS has been working with industry on for the last few years.
- Last month, in April, MAS announced a S$125 million package, basically to support smaller financial institutions and FinTech firms, through the downturn.
- MAS
- Parliamentary Replies
Last revised date:
- MAS could retard the process by tightening regulatory restrictions on foreign banks.
- That is what MAS is encouraging the local banks to do. However, MAS is not in a position to compel the banks to merge, let alone dictate who is to merge with whom. That can only be decided by the shareholders of the banks.
- MAS is, therefore, drawing up a 5 year programme to do this. 8 The Government needs to shape the final outcome of the liberalisation, and not leave things purely to chance.
- MAS
- Parliamentary Replies
Last revised date:
- MAS has published consumer guides on switching and structured deposits.
- MAS will monitor compliance through on-site inspections and off-site supervision.
- Answer 1 Ms Low refers to a number of Guidelines recently issued by MAS to improve business conduct standards in the financial advisory industry. 2 The Guidelines on Switching were released after MAS' inspections of the industry revealed that financial advisers paid insufficient attention to monitoring