Showing 5563 Documents for "MAS"
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- Media Releases
Last revised date:
- The Monetary Authority of Singapore (MAS) announced that Mr Lawrence Wong Shyun Tsai, Minister of State for Ministry of Education and Ministry of Defence, has been appointed to its Board of Directors.
- Mr Wong left the Administrative Service in April 2011. 3 The members of the MAS Board of Directors are listed in the Annex. *** Annex Board of Directors of the Monetary Authority of Singapore (with effect from 10 June 2011) Mr Tharman Shanmugaratnam (Chairman) Deputy Prime Minister; Minister for Finance
- Committee) Senior Advisor, Keppel Corporation Limited; Chairman, Singbridge International Singapore Limited Mr Lucien Wong Yuen Kuai Managing Partner, Allen & Gledhill Mr Peter Ong Boon Kwee Permanent Secretary, Ministry of Finance Mr Sundaresh Menon Attorney-General Mr Ravi Menon Managing Director, MAS
- MAS
- Media Releases
Last revised date:
- Singapore, 26 June 2009...On 30 October 2008, the Monetary Authority of Singapore (MAS) joined global central banks in establishing a temporary reciprocal currency arrangement (swap line) of US$30 billion with the US Federal Reserve.
- MAS will continue to monitor global financial market developments closely, and anticipate issues that may arise in Singapore’s financial markets.
- MAS has not had to draw on the facility. 2 Today, the temporary reciprocal currency arrangements (swap lines) with the Federal Reserve have been extended further, to expire on 1 February 2010.
- MAS
- Letters to Editor
Last revised date:
- Angelina Fernandez Director (Communications) Monetary Authority of Singapore
- Under our regulatory regime for the sale of investment products, financial institutions (FIs) and their representatives have to fully comply with MAS’ requirements.
- If FIs fall short of the required standards, detected in the course of our supervision or through formal inquiries originating from consumers’ complaints, MAS will take appropriate action.
- MAS
- Media Releases
Last revised date:
- Mr Chua Kim Leng, Assistant Managing Director, Banking and Insurance Group, MAS, said, “MAS takes a serious view of anyone who carries on a remittance business without a valid licence.
- Singapore, 22 September 2015… Two women and one man, aged between 48 to 59, will be charged in Court for their suspected involvement in carrying on remittance businesses without a valid remittance licence issued by the Monetary Authority of Singapore (MAS).
- We would like to encourage members of the public to report unlicensed money-changing or remittance businesses to the Police or MAS.”
- MAS
- Parliamentary Replies
Last revised date:
- Answer by Mr Tharman Shanmugaratnam, Senior Minister and Minister in charge of MAS : 1. Singapore-incorporated banks’ exposures to cryptoassets are insignificant, contributing less than 0.05% of their total risk weighted assets. 2.
- MAS contributes actively to this work, which seeks to ensure that banks maintain adequate capital and liquidity for such exposures. The BCBS has issued two rounds of consultation thus far and will finalise the framework around the end of 2022. 3.
- Pending the finalisation of the framework, MAS requires Singapore-incorporated banks to apply a 1250% risk weight for exposures to riskier cryptoassets such as Bitcoin and Ether. This is the highest risk weight under the BCBS’ capital framework.
- MAS
- Subsidiary Legislation
Last revised date:
- S 498/2004) in paragraph (1), the words and MAS Notice 133; and (b) by inserting, immediately before the definition of net claims settled in paragraph (4), the following definition: MAS Notice 133 means the notice commonly known as MAS Notice 133 issued by the Authority under sections 18 and 64(2)
- RAVI MENON Managing Director, Monetary Authority of Singapore. [ID 05.1 V35; AG/LEGIS/SL/142/2020/4 Vol. 1]
- INSURANCE ACT (CHAPTER 142) INSURANCE (FINANCIAL GUARANTEE INSURANCE) (AMENDMENT) REGULATIONS 2020 In exercise of the powers conferred by section 64(1) of the Insurance Act, the Monetary Authority of Singapore makes the following Regulations: Citation and commencement 1.
- MAS
- Exemptions
Last revised date:
- Circular Reference: ID 16/21 28 October 2021 To the Chief Executives [All Direct Insurers] Dear Sir AMENDMENTS TO MAS NOTICE 211 MAS Notice 211 (the Notice) applies to all direct general insurers (excluding marine mutual insurers and financial guarantee insurers).
- Informs insurers of the amendments to MAS Notice 211 - Minimum and Best Practice Training and Competency Standards for Direct General Insurers.
- If you have queries, please contact your companys liaison officer in MAS. Thank you. Yours faithfully (Sent via MASNET) DANIEL WANG EXECUTIVE DIRECTOR INSURANCE DEPARTMENT 2
- MAS
- Parliamentary Replies
Last revised date:
Written reply to Parliamentary Question on due diligence by banks to prevent mule accounts for scams- Answer by Mr Tharman Shanmugaratnam, Senior Minister and Minister in charge of MAS: 1. MAS requires all banks operating in Singapore to put in place robust controls to detect and deter the flow of illicit funds, including the use of mule accounts for scam activities.
- MAS has encouraged banks to use data analytics to improve their ability to detect mule activities, and has promoted the sharing of emerging mule typologies across the industry.
- Given the rise in the number and severity of scams in recent years, MAS and the Singapore Police Force (SPF) have worked with banks to incorporate an advisory to applicants at account opening.
- MAS
- Circulars
Last revised date:
- Informs all insurers on the expectation to submit their outsourcing registers to MAS annually by 31 March of each year or upon MAS' request. Circular No.
- format set out in Annex 3 of the Guidelines (www.mas.gov.sg/-/media/MAS/Regulations-and-Financial-Stability/Regulatory-and- Supervisory-Framework/Risk-Management/Outsourcing-Guidelines-Jul-2016--Annex-3.xlsx) at least annually or upon the Authoritys request.
- ID 16/19 19 December 2019 To Chief Executives All Insurers Dear Sir/Madam SUBMISSION OF OUTSOURCING REGISTER As set out under paragraph 4.1.1 of the MAS Guidelines on Outsourcing (Guidelines), insurers should submit their outsourcing registers in accordance to the
- MAS
- Parliamentary Replies
Last revised date:
- MAS will continue to monitor the mortgage loan and unsecured consumer credit situation. * * *
- Answer by Mr Tharman Shanmugaratnam, Senior Minister and Minister in charge of MAS: 1. To mitigate consumer over-indebtedness, MAS requires financial institutions (FIs) to implement a range of safeguards when extending mortgage loans and unsecured credit.
- Date: For Parliament Sitting on 9 May 2023 Name and Constituency of Member of Parliament Mr Melvin Yong Yik Chye, Radin Mas SMC Question: To ask the Prime Minister (a) how regularly are rules to safeguard against over-indebtedness reviewed; (b) when has the last review been conducted; and (c) whether