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- Media Releases
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- website ( www.mas.gov.sg ) and comments should reach MAS by 25 August 2012.
- The Monetary Authority of Singapore (MAS) today released a consultation paper on the review of the Risk-Based Capital (RBC) framework for insurance business. 2 The RBC framework was first introduced in Singapore in 2004.
- MAS is reviewing the framework, given evolving market practices in the insurance industry and in international accounting and regulatory standards.
- MAS
- Letters to Editor
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- Dawn Chew Director (Corporate Communications) Monetary Authority of Singapore
- We thank Mr Sum Siew Tak for his suggestion for the Monetary Authority of Singapore (MAS) to improve the ease with which charities can subscribe for Treasury Bills (T-bills) (“Treasury Bills – Let charities buy these more easily”, 2 November 2022). 2 Institutions such as charities can apply for T-bills
- While MAS has set a minimum investment amount of S$1,000 in face value for T-bills, different banks set different investment thresholds and fees based on their customer profiles and operational considerations. 3 MAS has contacted banks that are willing to accept smaller institutional applications, including
- MAS
- Media Releases
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People's Bank of China and Monetary Authority of Singapore Renew Bilateral Currency Swap Arrangement- Singapore, 13 May 2019…The People’s Bank of China (PBC) and the Monetary Authority of Singapore (MAS) today announced the renewal of the Bilateral Currency Swap Arrangement (BCSA).
- The agreement will strengthen regional economic resilience and financial stability. 2 The BCSA is a key pillar of co-operation between PBC and MAS.
- Under the arrangement, PBC and MAS can access foreign currency liquidity to support trade and investment financing needs, including projects under the Belt and Road Initiative, and to stabilise financial markets.
- MAS
- Media Releases
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- Singapore, 16 August 2005...The Monetary Authority of Singapore (MAS) has signed a Memorandum of Understanding (MOU) with the Emirates Securities and Commodities Authority (ESCA), the authority responsible for regulating the securities and commodities markets in United Arab Emirates (UAE). 2 The
- Through the MOU, MAS and ESCA seek to enhance bilateral ties and facilitate greater financial activity between the securities markets of the two countries. 3 The MOU was signed by Mr Shane Tregillis, Deputy Managing Director (Market Conduct), MAS, and Mr Abdullah Al-Turifi, Chief Executive, ESCA.
- Under the MOU, MAS and ESCA agree to provide mutual assistance and exchange information and expertise relating to regulation and market conduct of the securities industries of Singapore and the UAE.
- MAS
- Media Releases
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- Singapore, 19 Jan 2004...The Monetary Authority of Singapore (MAS) today issued the Banking (Credit Card and Charge Card) Regulations 2004, pursuant to section 78(2) of the Banking Act. Since 1983, MAS has imposed various guidelines on the operations of credit and charge card issuers.
- As part of MAS' on-going process to enhance regulatory transparency and for ease of reference, we have now consolidated these guidelines into a comprehensive set of regulations.
- The regulations are available on the MAS website ( http://sitecore.mas.gov.sg/Regulations-and-Financial-Stability/Regulations-Guidance-and-Licensing/Commercial-Banks/Subsidiary-Legislation.aspx ). ***
- MAS
- Media Releases
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- 1 The Minister for Trade & Industry and Deputy Chairman of the Monetary Authority of Singapore (MAS), Mr Lim Hng Kiang, today moved the Monetary Authority of Singapore (Amendment No. 2) Bill ("the Bill") for first reading in Parliament.
- (b) Derivative liability to create offences in the MAS Act for directors and officers where non-compliance by the financial institution is attributable to their consent, connivance or neglect.
- CHANGES 3 The key changes in the Bill are as follows: (a) Increase in maximum penalty to raise the maximum penalty provided for in the MAS Act for breaches of directions or regulations giving effect to Singapore’s United Nations obligations or anti-money laundering / countering the financing of terrorism
- MAS
- Media Releases
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- MAS stands ready to curb excessive volatility in the trade-weighted Singapore dollar. ***
- Singapore, 12 August 2015… The Monetary Authority of Singapore (MAS) said today that the trade-weighted Singapore dollar remains within its policy band notwithstanding increased volatility in foreign exchange markets following the recent shift in China’s exchange rate policy.
- MAS made the statement in response to media queries. 2 Under Singapore’s exchange rate-centred monetary policy framework, MAS manages the Singapore dollar against a trade-weighted basket of currencies within a policy band, and does not focus on any specific bilateral exchange rate.
- MAS
- Media Releases
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- MAS stands ready to curb excessive volatility in the trade-weighted Singapore dollar if needed. ***
- MAS does not target any bilateral exchange rate. The monetary policy stance remains as announced in October 2016. 3 MAS continues to closely monitor developments in the external environment and their impact on financial markets and the domestic economy.
- Singapore, 11 November 2016… In response to media queries, the Monetary Authority of Singapore (MAS) said that the Singapore dollar nominal effective exchange rate (S$NEER) remains well within its policy band, notwithstanding increased volatility in international foreign exchange markets over the last
- MAS
- Media Releases
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- The Monetary Authority of Singapore (MAS) and the International Swaps and Derivatives Association (ISDA) jointly hosted the MAS-ISDA forum in Singapore on 22 to 23 October 1999. The forum was opened by Mr Tharman Shanmugaratnam, Deputy Managing Director, MAS, and Mr Ernest T.
- Participants in the Singapore meeting included financial regulators from seven 1 Asian jurisdictions, the MAS and representatives of the over-the-counter (OTC) derivatives industry. The aim of this forum is to encourage greater understanding and exchange of views on areas of mutual interest.
- MAS
- Letters to Editor
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- Dear Sir, I refer to "Do banks' HDB loans make mockery of MAS rules?"
- of a residential property. 4 These rules are set out in MAS' Notices on Housing Loans and the Banking (Inducement to Use Credit Card or Charge Card for Purchase of Residential Property) Regulations 2002, available at the MAS website ( www.mas.gov.sg ).
- (BT, 30 December 2004). 2 Banks and financial institutions are required to ensure that the total amount of credit facilities, including property vendors' loans, obtained for the purchase of residential property does not exceed the maximum permitted by MAS.