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- MAS
- Speeches
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- 1 Mr Deputy Speaker, I beg to move, "That the Bill be now read a second time". Background 2 In a constantly changing environment, our legislation needs to be reviewed regularly to keep pace with changes. The Monetary Authority of Singapore (MAS) therefore reviews the Banking Act from time to time to ensure that the regulatory framework for banks continues to foster safety and soundness in Singapore’s banking system while making sure that requirements are not unduly burdensome. 3 In this round of
- MAS
- Explainers
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- When extending a housing loan, financial institutions (FIs) should ensure that borrowers are within the thresholds for mortgage servicing ratio and total debt servicing ratio. MSR Rules Mortgage servicing ratio (MSR) refers to the portion of a borrower’s gross monthly income that goes towards repaying all property loans, including the loan being applied for. MSR is capped at 30% of a borrower's gross monthly income. It applies only to housing loans for the purchase of an HDB flat, or an executive
- MAS
- Parliamentary Replies
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- QUESTION NO 1920, 1923, 2003, 1937 NOTICE PAPER 768, 774, 813, 794 OF 2021 FOR ORAL ANSWER Date: For Parliament Sitting on 3 November 2021 Question: Dr Lim Wee Kiak, MP, Sembawang GRC: To ask the Prime Minister in light of the disclosures in the Pandora Papers (a) whether MAS will be looking into the Singapore-based financial institutions and Singaporeans/foreigners who are implicated in the report; (b) whether any individual or financial institution will be asked to issue a clarification as to their
- MAS
- Speeches
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- Mrs Fang Ai Lian, Chairman, Great Eastern Life, Mr Tan Hak Leh, Managing Director Ladies and Gentlemen, 1 It is my pleasure to be here on this happy occasion, made all the more significant as Great Eastern Life (GE Life) celebrates its centennial this year. 2 For a corporation to achieve success for 100 years is a significant achievement. It attests to the agility and business acumen of its leaders, as well as the commitment of several generations of staff. Today, we celebrate GE Life’s
- PDPC
- Public Consultations
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- RESPONSE TO PUBLIC CONSULTATION PAPER Consultation topic: Name1/Organisation: 1if responding capacity in a personal PUBLIC CONSULTATION ON REVIEW OF THE PERSONAL DATA PROTECTION ACT 2012 – PROPOSED DATA PORTABILITY AND DATA INNOVATION PROVISIONS FWD Singapore Pte. Ltd. 1 -------- Question 1: What are your views on the impact of data portability, specifically on consumers, market and economy? Comments: i. ii. iii. The data portability request is
- MAS
- Monetary Policy Statements
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- 14 October 2021 INTRODUCTION 1. In its April 2021 Monetary Policy Statement, MAS kept the rate of appreciation of the S$NEER policy band at zero percent, with no change to the width of the policy band or the level at which it was centred. This policy stance was appropriate as core inflation was projected to rise only gradually from subdued levels and keep below its historical average. Chart 1 S$ Nominal Effective Exchange Rate (S$NEER) 2. Over the last six months, the S$NEER broadly fluctuated
- PDPC
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- GUIDE TO DATA SHARING Revised 1 February 2018 1 -------- TABLE OF CONTENTS PART 1: INTRODUCTION.............................................................................................................. 3 PART 2: FACTORS TO CONSIDER BEFORE SHARING .................................................................... 6 PART 3: THE “HOW” OF PERSONAL DATA SHARING .........................................................
- MAS
- Guidelines
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- How to qualify to be a CMS licensee (other than a fund manager or REIT manager). These guidelines set out the licensing criteria for capital markets services (CMS) licensees who are: Broker-dealers Corporate finance advisors Securities financiers Custodians Credit rating agencies The licensing criteria include fitness and propriety, base capital and professional indemnity insurance. Guidelines on Criteria for the Grant of a Capital Markets Services Licence Monetary Authority of Singapore
- MAS
- Media Releases
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- Singapore, 5 December 2013 … MAS has been actively engaging Standard Chartered Bank (SCB) on the theft of some of its clients’ bank statements. The theft occurred at a third party service provider which SCB engaged to print these statements. 2 The bank has confirmed to MAS that this incident has not compromised the bank’s own IT systems or infrastructure. We will review SCB’s investigation report and consider if regulatory action against the bank is warranted. 3 Globally, financial institutions
- MAS
- Circulars
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- Requirements for banks when setting up limited purpose branches to provide remittance and money-changing services. Date: 30 June 2003 Cir. No. BD 15/2003 Dear Sir/Madam To Chief Executive Officers of All Banks SETTING UP OF ADDITIONAL OUTLETS TO PROVIDE REMITTANCE AND MONEY-CHANGING SERVICES MAS has received enquiries from banks on the setting up of additional outlets to provide remittance and money-changing services. 2 Banks may apply to MAS under