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- Media Releases
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- Singapore, 16 May 2007...The Monetary Authority of Singapore (MAS) will issue new $5 polymer notes from 18 May 2007. This is the third denomination in the Portrait Series to be converted from paper into polymer.
- MAS received favourable feedback from the public, banks and retailers on the $10 and $2 polymer notes introduced earlier. As such, we decided to proceed with issuing $5 polymer notes." ***
- The $5 polymer notes will circulate alongside the $5 paper notes, both of which will remain legal tender. 2 As with the $2 and $10 polymer notes, MAS has retained the portrait series design for the $5 polymer notes as it is familiar to the public.
- MAS
- Parliamentary Replies
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- MAS has robust regulatory and supervisory frameworks to minimise systemic risk to FIs. For instance, MAS subjects all major banks to rigorous stress testing to assess any vulnerabilities in their portfolios. 5. MAS urges households to exercise caution in their new borrowings.
- Answer by Mr Tharman Shanmugaratnam, Senior Minister and Minister in charge of MAS: 1. The total debt servicing ratio (TDSR) is part of a suite of measures MAS has put in place over the years to encourage prudent borrowing and lending on residential property purchases.
- MAS
- Letters to Editor
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- We would like to clarify that SGX and MAS already publish information on short sell trades and outstanding short positions respectively. MAS and SGX rules require all persons making short sell orders to identify the order as such.
- Weekly aggregated short position reports are published by MAS and can be found at: https://eservices.mas.gov.sg/sprs/Public/Publication/ViewAggregatedReports.aspx Jerome Lee Director (Corporate Communications) Monetary Authority of Singapore Chin May Nah Head of Media Communications Singapore Exchange
- Dear Editor, MAS & SGX: Current rules provide transparency on short selling activities We refer to Mr Tan Song Huat’s letter calling for short sell trades of any size on SGX to be published within 24 hours. (“Shorting on the SGX: Have full transparency on such trades, big or small”, 3 April 2020).
- MAS
- Economic Essays
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- Monetary Authority of Singapore Economic Policy Group
- The views in this Special Feature are solely those of the authors and should not be attributed to MAS.
- Monetary Authority of Singapore Economic Policy Group -------- Special Features 101 ones. Successful Such separating equilibria are not always easy to get going.
- MAS
- Media Releases
Last revised date:
- MAS announced today that it has successfully carried out Year 2000 tests for its two nation-wide networks for the financial industry, the MAS Electronic Payment System (MEPS) and MASNET.
- Industry-wide tests are a key component of MAS' supervisory programme to ensure the integrity of the financial system into the Year 2000.
- MASNET is a financial sector communications network operated by MAS. The MASNET test was completed in February 1999, involving almost 200 financial institutions.
- MAS
- Media Releases
Last revised date:
- Under the ABI scheme, the Monetary Authority of Singapore (MAS) will evaluate a financial institution's debt origination and trading capabilities in Singapore on an overall basis.
- MAS Sets Up New Committee to Oversee Bond Market Developments Date: 5 Aug 1999 FACT SHEET 1 APPROVED BOND INTERMEDIARY (ABI) SCHEME With the intention of further promoting and developing a vibrant bond market in Singapore, Minister for Finance Dr Richard Hu had introduced an Approved Bond Intermediary
- In evaluating the applications for ABIs, MAS will consider qualitative criteria such as the financial institution's expertise in origination and structuring, the extent of debt sales/distribution/trading capabilities in Singapore, the track record of the institution as well as its plans for developing
- MAS
- Media Releases
Last revised date:
- The Monetary Authority of Singapore ("MAS") is seeking industry comments on a number of draft documents relating to the Financial Advisers Act (No. 43 of 2001) ['FAA'].
- of Conduct for Financial Advisers, and FA(T&S) Regs, are available on MAS' website.
- Details will be announced shortly. 7 To allow the affected parties to prepare themselves for the implementation of the FAA, MAS has also released a draft of the Financial Advisers (Transitional and Savings Provisions) Regulations ['FA(T&S) Regs']. 8 The FAR, Written Notices, Guidelines on Standards
- MAS
- Media Releases
Last revised date:
- The feedback received has been very favourable, and MAS has incorporated many of the comments into the Bill.
- The Bill will also uphold the validity of netting arrangements in the event of the insolvency of a participant in a designated payment system. 3 A draft of the Bill and a MAS-AGC joint paper on the legal protection of payment system were released for public consultation in August 2002.
- When enacted, the Bill will enable MAS to designate certain payment and settlement systems, with the consequence that a designated system will be exempt from the application of certain laws that might otherwise threaten the finality of payments made through the designated system, including the law of
- MAS
- Enforcement Actions
Last revised date:
- Singapore, 24 July 2018… The Monetary Authority of Singapore (MAS) has issued 4-year prohibition orders against Ms Chan Seet Fun for the misappropriation of client monies. 2 The orders prohibit Ms Chan from providing any financial advisory service and taking part in the management, acting as a director
- Where warranted, MAS will not hesitate to bar from the industry representatives who betray the trust of their clients.” Background of the case 4 Ms Chan was a former representative of The Great Eastern Life Assurance Company Limited (GE).
- Ms Chan is also prohibited from carrying on business as, and taking part in the management of, any insurance intermediary under the Insurance Act. 3 Mr Lee Boon Ngiap, Assistant Managing Director (Capital Markets), MAS, said: “The financial advisory industry must be built on a bedrock of trust and
- MAS
- Media Releases
Last revised date:
- The Monetary Authority of Singapore (MAS) today released a public consultation to review the Policy Owners’ Protection Scheme (PPF Scheme), to ensure that the PPF Scheme remained relevant in the face of market developments.
- Specifically, MAS proposes to implement, on a per policy basis, a cap of: a) $50,000 for own property damage motor claims, under personal motor insurance policies; and b) $300,000 for property damage claims, under personal property (structure and contents) insurance policies.
- The PPF Scheme provides compensation to policy owners for all life insurance policies and certain general insurance policies 1 in the event of default of any licensed direct life or general insurer. 2 MAS proposes that a “personal” insurance policy be defined as one that is owned by an individual