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- V Challenges for MAS 42 As the supervisor of the insurance industry, MAS faces considerable challenges too.
- MAS will take steps to ensure that further liberalisation will not compromise the security of policyholders' interests. Corporate Governance 43 One key component of MAS' recent liberalisation package for the banking industry is measures to strengthen the corporate governance of banks.
- MAS' recent efforts to do so have yielded encouraging results. We will press on with our plans to develop the debt market, and study ways to promote these retirement products.
- MAS
- Media Releases
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- The following measures will take effect on 12 January 2013: a) Tighter eligibility for loans to buy HDB flats: i) MAS will cap the Mortgage Servicing Ratio (MSR) for housing loans granted by financial Regulated by MAS at 30% of a borrower’s gross monthly Medium-term interest rates shall be used to
- MAS will set an MSR limit of 30% for loans granted by MAS-regulated 2 financial institutions for the purchase of HDB flats.8 This rule shall apply to loans which are for the purchase of HDB flats, if the date which the Option to Purchase was granted is 12
- ) Raised between five and seven percentage points across the board. ii) Imposed on Permanent Residents (PRs) purchasing their first residential property and on Singaporeans purchasing their second residential property. b) Loan-to-Value limits on housing loans granted by financial Regulated by MAS
- MAS
- Speeches
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- and MAS” on the impact of automation and data analytics over the next 3-5 years on job tasks and skills needs in the financial sector.
- MAS and IBF are also actively driving the expansion and deepening of workforce capabilities in technology and specialised fields, to meet the needs of the rapidly evolving financial sector landscape in Asia.
- In 2019, assets under management (AUM) in Singapore grew 16% to reach S$4.0 trillion, with 76% of the AUM originating from outside of Singapore, and 69% of AUM being invested into the Asia Pacific region MAS 2019 Asset Management Survey .
- MAS
- Recent Economic Developments
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- All other indicators from MAS.4/ Ministry of Finance5/ MASna: Not available
- MAS Core Inflation is expected to rise Continuing wage pressures due to tightness in the labour market as well as a slight pick-up in cost pass-through will lead to a rise in MAS Core Inflation.
- For the whole of 2013 and 2014, MAS Core Inflation will average 1.52% and 23% respectively.
- MAS
- Recent Economic Developments
Last revised date:
- All other indicators from MAS. 4/ Ministry of Finance 5/ MAS na: Not available 16
- MAS Core Inflation also edged down to 2.4% in July.
- Excluding these items, MAS Core Inflation will be slightly lower given the generally sluggish economic environment.
- MAS
- Media Releases
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- About the Monetary Authority of Singapore The Monetary Authority of Singapore (MAS) is Singapore’s central bank and integrated financial regulator.
- This is a joint initiative by the Monetary Authority of Singapore (MAS), the Smart Nation and Digital Government Group (SNDGG), and financial institutions. How does SGFinDex work and how can it benefit me?
- The Monetary Authority of Singapore (MAS) and the Smart Nation and Digital Government Group (SNDGG) today launched the Singapore Financial Data Exchange (SGFinDex) , which will enable Singaporeans to consolidate their financial information for more effective financial planning. 2.
- MAS
- Speeches
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- The version, which is first lodged with MAS, must therefore be good enough to stand scrutiny. It cannot be a mere draft but must form the basis on which the issue will be marketed.
- This will enhance competition and reduce compliance cost. 12 To complement modular licensing of intermediaries, MAS intends to introduce a risk based capital framework, beginning with SGX member firms.
- MAS could be a facilitator such as in the formulation of the code of conduct for Financial Advisers, which I mentioned earlier. Ultimately, industry must take ownership of the process and self-regulate.
- MAS
- Speeches
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- MAS will be shortly commencing regular inspections on financial advisers. 22 What is clear however, is mere compliance alone is not enough.
- MAS hopes that AFA and other industry associations involved in the study of a dispute resolution mechanism for the capital markets, will have a scheme up and running before the end of next year.
- MAS expects FAs to uphold high standards of ethical conduct and fair dealing when providing financial advisory services to all their clients, in Singapore and overseas. 18 We encourage the industry to consider our proposals and provide us with feedback.
- MAS
- Speeches
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- At MAS’ end, we have been working in close collaboration with the industry and institutes of higher learning to strengthen the local talent pool.
- Besides endorsing the organisation’s IT strategy and risk tolerance level, MAS also expects the board to be up-to-date on important technological and cyber risk developments. I urge insurers to remain vigilant in monitoring and combating cyber threats.
- MAS is in the midst of engaging the industry on the proposed requirements, and will conduct a public consultation in due course. Competencies – Developing competencies and talent 20 With that, I’ve come to the final topic – developing competencies and talent.
- MAS
- Economic Essays
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- Professor Taylor visited MAS in May 2014 as the MAS-NUS Term Professor in Economics and Finance.
- Monetary Authority of Singapore Economic Policy Group
- The views in this Special Feature are solely those of the author and should not be attributed to MAS. See Hofmann and Bogdanova (2012). A more detailed analysis using policy rules or monetary response functions reveals these same changes.