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- Media Releases
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- Singapore, 9 June 2017… The Monetary Authority of Singapore (MAS) and the Association of Supervisors of Banks of the Americas (ASBA) today signed a Memorandum of Understanding (MOU) to bolster FinTech ties between Singapore and the Americas.
- MAS and ABSA will also facilitate discussions on issues of mutual interest, such as emerging FinTech trends and other pertinent issues on innovative financial services.
- Mr Sopnendu Mohanty, Chief FinTech Officer, MAS, said: “FinTech is fundamentally about ideas and enterprise flowing between cities. It requires bringing together a range of stakeholders.
- MAS
- Media Releases
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- Singapore, 17 February 2010…The Monetary Authority of Singapore (MAS) announced today that Shane Tregillis, currently Deputy Managing Director, Market Conduct, will leave MAS on 11 March 2010 on completion of his contract. 2 Mr Tregillis joined MAS in November 2001.
- Among his many achievements is the MoneySENSE programme launched in 2003. 3 Heng Swee Keat, Managing Director, MAS, said, "MAS has benefited much from Shane's perspective on key policy and management issues. Shane has made many significant contributions to the organization.
- MAS
- Media Releases
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- MAS is paying special supervisory attention to FIs’ compliance with MAS’ requirements for IT outsourcing.
- Singapore, 5 December 2013 … MAS has been actively engaging Standard Chartered Bank (SCB) on the theft of some of its clients’ bank statements.
- The theft occurred at a third party service provider which SCB engaged to print these statements. 2 The bank has confirmed to MAS that this incident has not compromised the bank’s own IT systems or infrastructure.
- MAS
- Media Releases
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- Comments by MAS Spokesperson on the Petition Received by MAS on 24 Sep 2008: MAS confirms that it has received a petition from a group of Lehman Minibond investors. We understand the concerns of investors and assure them that we are taking action on the issues raised in the petition.
- MAS' priority is to ensure that consumers' complaints on misrepresentation are dealt with fairly and expeditiously.
- However, it would not be appropriate for MAS to require any particular institution to take over Lehman's role.
- MAS
- Media Releases
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- Singapore, 3 September 2010…The Monetary Authority of Singapore (MAS) has issued our responses to feedback received from the public consultation on the proposed enhancements to the Deposit Insurance (DI) Scheme in Singapore, which was published on 25 February 2010. 2 MAS had proposed enhancements
- The Scheme is independent of the Government guarantee on deposits which expires on 31 December 2010. 5 To view MAS' response to the feedback received, please click on the following link (150.6 KB) . ***
- , with a view to implementing the revised Scheme in early 2011. 4 The current study formed part of MAS’ regular review with the Singapore Deposit Insurance Corporation , to ensure that the Scheme which was first implemented in 2006, continues to be relevant.
- MAS
- Letters to Editor
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- MAS will hold banks liable for any losses to customers arising from a breach of their systems. MAS conducts active supervision to assess the banks’ compliance with MAS’ guidelines on IT system security, reliability, resilience and recoverability. Cybercrime prevention is everyone’s responsibility.
- Bey Mui Leng (Ms) Director (Corporate Communications) Monetary Authority of Singapore
- The Monetary Authority of Singapore (MAS) takes cybersecurity very seriously. Banks are required by law to safeguard customers’ information from unauthorised access and to ensure that their critical systems are resilient.
- MAS
- Media Releases
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- Singapore, 13 March 2023… The Monetary Authority of Singapore (MAS) said today that Singapore’s banking system remains sound and resilient amid heightened volatility in global financial markets following the recent closure of banks Silicon Valley Bank and Signature Bank.
- MAS and other government agencies will continue to monitor the situation closely for any signs of stress. ***
- MAS stands ready to provide liquidity through its suite of facilities to ensure that Singapore’s financial system remains stable and financial markets continue to function in an orderly manner. 4 MAS is in close touch with Enterprise Singapore to assess any potential impact of international developments
- MAS
- Circulars
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- In this connection, MAS has on 27 Jun 2003 gazetted a new Banking (Licence Fees) Notification, which is available on the MAS website. The licence fees stipulated in the notification shall apply to such limited purpose branches.
- In granting its approval, MAS may impose conditions which it deems necessary, and in this connection, may permit the maintenance of accounts solely for outward remittances. 3 Where MAS has granted approval for the setting-up of such an outlet, the outlet will be
- services. 2 Banks may apply to MAS under section 12 of the Banking Act to set up additional outlets to provide remittance and money-changing services only.
- MAS
- Media Releases
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- Singapore, 22 December 2020…The Monetary Authority of Singapore (MAS) and the China Securities Regulatory Commission (CSRC) held their 5th MAS-CSRC Supervisory Roundtable today.
- MAS and CSRC also exchanged views on capital markets supervision, including areas of supervisory co-operation as well as possible collaborations between Singapore and Chinese exchanges. 3. Mr Ong said, “CSRC and MAS enjoy a close supervisory partnership.
- The Roundtable was co-chaired by MAS’ Deputy Managing Director Mr Ong Chong Tee and CSRC’s Vice Chairman Mr Fang Xinghai.
- MAS
- Parliamentary Replies
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- Guarantees under the proposed facility will be given by MAS. MAS has the authority to extend such guarantees under Section 23(1)(k) of the MAS Act.
- This is because MAS has, during the term of office of the current Government, accumulated reserves well in excess of the US$2 billion for the guarantee facility. 3.
- The contingent liability posed by the guarantees will not draw on the reserves that MAS has accumulated prior to the current term of office of Government which began on 25 Jan 97.