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- MAS
- Media Releases
Last revised date:
- In response to public and media queries, the Monetary Authority of Singapore (MAS) has clarified the application of the loan-to-value (LTV) limits and total debt servicing ratio (TDSR) for residential mortgages and mortgage equity withdrawal loans (MWLs).
- This is provided under MAS’ current rules to facilitate the provision of credit to businesses, some of which may rely on MWLs to finance their operations. ***
- This relief, announced by MAS on 31 March 2020 as part of an industry-wide package, applies to residential property purchase loans and MWLs, including those under Debt Reduction Plans, and extends to both owner-occupied (HDB and private) and investment properties.
- MAS
- Economic Essays
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- Professor Christiano visited MAS in JunJul 2015 as the MAS-NUS Term Professor in Economics and Finance. The views in this Special Feature are solely those of the author and should not be attributed to MAS.
- Inside the Meltdown, documentary available at Monetary Authority of Singapore Economic Policy Group
- Monetary Authority of Singapore Economic Policy Group -------- Special Features 91 working extra hard. That is, we should see some occupations in which average hours per worker is very high (e.g., nursing) and others in which it is low (e.g., construction).
- MAS
- Speeches
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- Today, I want to focus on two topics: an update on job opportunities in financial services based on MAS’ latest employment outlook survey; and the most challenging part of our jobs and skills agenda – job specialisation , specifically in the area of technology, based on a deep dive study MAS has done
- The answer lies in individuals, financial institutions, and MAS working together to build strong skills in technology. We have been doing that, but we need to do much more. MAS looks forward to ideas and initiatives on what else we can do collectively to build up tech skills.
- Three, MAS works with financial institutions to support individuals from outside the financial sector transit into tech roles in the sector.
- MAS
- Economic Essays
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- Douglas Laxton visited MAS in July 2019 as a consultant to EPG, MAS. This Special Feature is based on Laxton et al. (2019) and the views in it are solely those of the author and should not be attributed to MAS.
- Monetary Authority of Singapore Economic Policy Group
- Monetary Authority of Singapore Economic Policy Group -------- Special Features 91 Borio, C, Disyatat, P and Juselius, M (2013), Rethinking Potential Output: Embedding Information About the Financial Cycle, BIS Working Papers No. 404.
- MAS
- Speeches
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- Since its launch three years ago, MAS has provided guidance to more than 250 firms, and received more than 60 applications to experiment in the sandbox. iSTOX, a private market platform leveraging on DLT and offering the trading of tokenised private securities, is the first market operator to enter MAS
- MAS has committed S$75 million over three years to help companies list and raise equity capital on SGX and support initiatives that broaden and deepen our research ecosystem.
- The sandbox is also a regulatory innovation for MAS, where we support financial institutions and fintech players to experiment with innovative financial products or services in a live environment, within well-defined boundaries.
- MAS
- Enforcement Actions
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- Singapore, 3 March 2021… The Monetary Authority of Singapore (MAS) has issued prohibition orders (POs) against the following four individuals, following their convictions for market misconduct offences The case was referred to MAS by the Singapore Exchange Securities Trading Ltd. : Name Duration of Prohibition
- The court proceedings against the other four individuals are ongoing. 4 Ms Loo Siew Yee, Assistant Managing Director (Policy, Payments & Financial Crime), MAS, said, “MAS expects representatives of our financial institutions to act with honesty and integrity.
- MAS does not tolerate such misconduct and will take firm action to keep such offenders out of the financial industry.
- MAS
- Parliamentary Replies
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- MAS will work with the industry and community leaders to further expand on these public outreach and education efforts. 7 The purpose of encouraging electronic payments is to bring about greater convenience for everyone.
- Answer by Mr Tharman Shanmugaratnam, Deputy Prime Minister and Minister in charge of MAS: 1 According to World Bank estimates 1 , 96% of Singapore residents above the age of 15 have bank accounts. The figure would be higher for adults.
- Many working adults and students will also have access to ATMs near their places of work or study or along their daily commutes. 13 The interoperability between the two local bank ATM networks is a further step that MAS has raised with the banks.
- MAS
- Recent Economic Developments
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- Taking these factors into account, MAS Core Inflation is expected to average 2-3% in 2013.
- Macroeconomic Policies In October last year, MAS reaffirmed the monetary policy stance adopted in April 2012 i) Monetary Policy 92 96 108 100 104 ) 0 0 1 = e g a r e v A Appreciation Depreciation and 1 1 0 2 r p A 8 - 4 ( x e d n I other MAS maintained
- All other indicators from MAS. 4/ Ministry of Finance 5/ MAS na: Not available 1.3007 1.6777 1.6835 1.2221 1.4214 1.6151 1.3003 1.6975 1.7593 1.3007 1.6777 1.6835 1.2572 1.5321 1.6782 1.2737 1.6056 1.6023 1.2254 1.5799 1.5844 1.2221 1.4214 1.6151 1.2221 1.4214 1.6151 1.2389 1.3631 1.6816
- MAS
- Media Releases
Last revised date:
- Brokers wanting to carry on insurance business in Singapore will have to register with MAS and comply with the stipulated regulatory requirements.
- MAS today announced the introduction of the Insurance Intermediaries Act which will come into effect on 31 Dec 1999. At the same time, the Authority also issued the Insurance Intermediaries Regulations 1999 and Insurance (Amendment) Regulations 1999.
- An agent or broker registered to place business with Lloyd's in London will be required to pay an annual fee of $5,000. 9 Arising from the introduction of the new Insurance Intermediaries Regulations, MAS introduced two consequential amendments to the existing Insurance Regulations.
- MAS
- Media Releases
Last revised date:
- The Monetary Authority of Singapore (MAS) has proposed measures to address the risks associated with large scale movement of financial advisory (FA) representatives from one FA firm to another.
- MAS has therefore made it clear to the industry that financial incentives offered by an insurer or its related FA firm to recruit representatives from another firm cannot be charged to the insurance funds as an expense. 5 The public consultation will end on 9 April 2018.
- Sales targets for subsequent years should be set at a reasonable level based on the representatives’ past performance, and would be subject to supervisory review by MAS. This measure mitigates the risk of representatives engaging in aggressive sales tactics to meet inflated sales targets.