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- Singapore, 28 June 2013 … The Monetary Authority of Singapore (MAS) will introduce a Total Debt Servicing Ratio (TDSR) framework for all property loans granted by financial institutions (FIs) to individuals 1 . This will require FIs to take into consideration borrowers’ other outstanding debt obligations when granting property loans. They will help strengthen credit underwriting practices by FIs and encourage financial prudence among borrowers. 2 MAS will also refine rules related to the application
- MAS
- Media Releases
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- Singapore, 31 May 2022…The Monetary Authority of Singapore (MAS) announced today the commencement of Project Guardian, a collaborative initiative with the financial industry that seeks to explore the economic potential and value-adding use cases of asset tokenisation. Project Guardian was launched by Mr Heng Swee Keat, Deputy Prime Minister and Coordinating Minister for Economic Policies, at the Asia Tech x Singapore Summit this morning. 2 Tokenisation is the process of digitally representing assets
- MAS
- Media Releases
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- Singapore, 14 September 2018 … The World Investor Week in Singapore (WIWS) returns for its second run from 4 to 12 October 2018. WIWS aims to equip retail investors with the financial knowledge and skills to make informed investment decisions. 2 Organised by MoneySENSE in conjunction with the International Organisation of Securities Commissions’ (IOSCO) 1 World Investor Week, the second WIWS comprises a series of interactive sessions for investors to actively engage with experts 2 on the following
- MAS
- Media Releases
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- Singapore, 4 October 2021 … MoneySense launched today a campaign to encourage Singaporeans to build financial resilience amid COVID-19 challenges through a simple four-step plan: (1) Budgeting; (2) Saving for emergencies; (3) Investing early; and (4) Planning early for retirement. The campaign will run for 10 weeks from 4 October 2021. 2 The theme of this year’s campaign is “#MoneySense101: Financial Planning is for Everyone”. Highlights of the MoneySense campaign include: # MoneySense101
- MAS
- Speeches
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- Mrs Josephine Teo, Minister for Manpower, members of the IBF Council, ladies and gentlemen, welcome to IBF. IBF will be turning 45 this year. It is hard to imagine the financial sector today without the IBF. Not all countries have the equivalent of an IBF. Fewer still have as strong a collaboration as we do here in IBF – among financial institutions and between financial institutions and the regulator. And all for a common cause that has been consistent for the last 45 years – to equip the professionals
- MAS
- Speeches
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- Date: 17 May 1999 Q1. In the statement it is mentioned that you want to keep the market share of domestic banks to 50%. How are you going to keep this and what is going to happen if it goes below 50%? A1. Well in the statement we have stated our position carefully. Firstly I think the way we have structured our package, we have given local banks some time to upgrade and adapt and make sure they hold their own. It is not an overnight freeing up of all restrictions; it is a phased adjustment. They
- MAS
- Speeches
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- Introduction 1 Good morning. It gives me great pleasure to join you today at this 11th Asian Banker Summit. 2 The inaugural Asian Banker Summit was held in Singapore about 10 years ago. At that time, Asia was staging a strong recovery from the financial crisis which shook the region in 1997. Today, we find ourselves at a similar inflection point. Emerging from the crisis 3 The worst of the global financial crisis appears to be over. Global financial conditions have since improved
- PDPC
- Commission's Decisions
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- A warning was issued to The National Kidney Foundation for failing to put in place reasonable security to protect the personal data in its possession. The incident resulted in personal data being downloaded. Click here to find out more. PERSONAL DATA PROTECTION COMMISSION [2021] SGPDPC 10 Case No DP-2005-B6353 In the matter of an investigation under section 50(1) of the Personal Data Protection Act 2012 And The National Kidney Foundation Organisation DECISION -------- The National
- MAS
- Speeches
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Explanatory Brief on the Variable Capital Companies (Miscellaneous Amendments) Bill on 5 August 2019- The Second Minister for Finance, Ms Indranee Rajah, today moved the Variable Capital Companies (Miscellaneous Amendments) Bill 2019 (“the Bill”) for First Reading in Parliament. Introduction 2 The Bill amends the: (a) Variable Capital Companies Act 2018 (Act 44 of 2018) (“VCC Act”); (b) Income Tax Act (Cap. 134) (“ITA”); (c) Goods and Services Tax Act (Cap. 117A) (“GSTA”); and (d) Stamp Duties Act (Cap. 312) (“SDA”). Amendments to VCC Act 3 The VCC Act provides for the incorporation and operation
- MAS
- Media Releases
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- Singapore, 30 May 2017…The Monetary Authority of Singapore (MAS) announced today that it has completed its two-year review of banks involved in 1MDB-related transactions known to-date. In its latest regulatory actions, MAS has imposed financial penalties on Credit Suisse and United Overseas Bank (UOB), as well as issued Prohibition Orders (POs) against three individuals and served notice of its intention to impose the same regulatory action on three others. Regulatory actions against Credit Suisse