Definition of “business trust”
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A business trust is a business enterprise structured as a trust. A business trust (“BT”) is a business enterprise structured as a trust....
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- MAS
- Speeches
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- 1 Mr Ong Ye Kung, the Minister for Education (Higher Education and Skills) & Second Minister for Defence, on behalf of Mr Tharman Shanmugaratnam, Deputy Prime Minister and Minister in charge of the Monetary Authority of Singapore (MAS), today moved the Monetary Authority of Singapore (Amendment) Bill 2017 (the “Bill”) for First Reading in Parliament. BACKGROUND 2 The MAS is introducing legislative amendments to strengthen the MAS’ powers to resolve distressed financial institutions in an
- MAS
- Speeches
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- 1 Mr Speaker, on behalf of the Minister-in-Charge of MAS, I beg to move, “That the Bill be now read a second time”. BACKGROUND 2 One of MAS’ key supervisory objectives is to ensure that critical payment and settlement systems function smoothly during times of disruption. Disruption can occur, for example, when a participant in a payment and settlement system becomes insolvent. A case in point was in 1995 – when the insolvency of Barings transmitted its financial losses to counterparties in
- MAS
- Speeches
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- Mr Willie Cheng, Chairman of SID Mr John Lim, Immediate Past Chairman of SID Distinguished guests, ladies and gentlemen, good morning. I am delighted to join you today at this inaugural SID launch event to announce the results of the 2013 corporate governance ranking exercise based on the ASEAN Corporate Governance Scorecard. Evolving Landscape Much has been said about the importance of setting and attaining a high level of corporate governance standards and practices. Good corporate governance underpins
- MAS
- Speeches
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- Securing the Future: A Challenge for the 21st Century Business Introduction 1 It gives me great pleasure to be here at the International Insurance Conference @ Singapore. I understand this is the 6th in the series of biennial conferences organised by the Singapore Insurance Brokers’ Association and for the first time, co-organised with the Singapore College of Insurance. We are pleased to note that this event draws a good mix of brokers, direct insurers and reinsurers. To start, let me make a few
- MAS
- Media Releases
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- Singapore, 31 October 2022… The Monetary Authority of Singapore (MAS) released today a report detailing potential uses of a purpose-bound digital Singapore dollar (SGD) and the supporting infrastructure required, marking the successful completion of Phase 1 of Project Orchid Project Orchid was launched by MAS in November 2021. Please refer to this link for more information. . 2 A digital SGD can take different forms: a retail Central Bank Digital Currency (CBDC), which is the digital equivalent of
- MAS
- FAQs
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- Provides guidance on the mutual recognition of MAS and Thai SEC's product knowledge examinations in securities and collective investment schemes. Monetary Authority of Singapore FINANCIAL ADVISERS ACT (CAP. 110) FREQUENTLY ASKED QUESTIONS ON MUTUAL RECOGNITION OF MAS AND THAI SEC PRODUCT KNOWLEDGE EXAMINATIONS Disclaimer: The FAQs are meant to provide guidance to the industry on MAS policy and administration of the Securities and Futures Act, Financial Advisers Act
- MAS
- Monetary Policy Statements
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- 14 April 2022 INTRODUCTION 1. In the January 2022 Monetary Policy Statement (MPS), MAS increased slightly the slope of the Singapore dollar nominal effective exchange rate (S$NEER) policy band. There was no change to the width of the policy band or the level at which it was centred. This off-cycle move was assessed to be necessary in view of the upward revision to the MAS Core Inflation forecast amid rapidly accumulating external and domestic cost pressures. Chart 1 S$ Nominal Effective Exchange
- MAS
- Speeches
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- Operational Resilience The financial sector has been quite remarkably resilient in the face of Covid-19. All financial services have remained open, except those involving face-to-face interactions with customers outside of bank branches. During the circuit breaker The circuit breaker refers to the tightened restrictions on movements and gatherings of people imposed from 7 April to 1 June 2020, aimed at slowing the spread of the Covid-19 virus in Singapore. period, 85% of workers in the financial
- MAS
- Consultations
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- Response VIEW DOCUMENT Response to Feedback Received Proposed Notice on LCR and MLA Requirements for Merchant Banks (276.5 KB) Consultation Paper VIEW DOCUMENT Proposed Notice on Liquidity Coverage Ratio (LCR) and Minimum Liquid Assets (MLA) Requirements for Merchant Banks (668.2 KB) RESPONSE TO FEEDBACK RECEIVED November 2015 Response to Feedback Received Proposed Notice on Liquidity Coverage Ratio (LCR) and Minimum Liquid Assets (MLA) Requirements for Merchant Banks Monetary
- MAS
- Consultations
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- Response VIEW DOCUMENT Response to Feedback Received on Proposed Implementation of the Final Basel III Reforms in Singapore – Operational Risk Capital and Leverage Ratio Requirements (390.3 KB) Response to Feedback Received on Proposed Implementation of the Final Basel III Reforms in Singapore – Credit Risk Capital and Output Floor Requirements (554.9 KB) Response to Feedback Received on Proposed Implementation of the Final Basel III Reforms in Singapore – Market Risk Capital Requirements (306.1