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    • MAS
    • FATF Statement

    Last revised date:

    • FIs should also continue to comply with the requirements in the MAS (Sanctions and Freezing of Assets of Persons – DPRK) Regulations 2016, and apply appropriate risk mitigation measures taking into account relevant guidance provided by MAS.
    • FIs should also continue to comply with the requirements in the MAS (Sanctions and Freezing of Assets of Persons – Iran) Regulations 2016, and apply appropriate risk mitigation measures taking into account relevant guidance provided by MAS.
    • To this end, as communicated by MAS in the previous circular and statement on managing Myanmar risks, FIs must apply enhanced due diligence measures accordingly to detect and mitigate the risks associated with higher-risk customers and transactions.
    • MAS
    • Forms and Templates

    Last revised date:

    • This specimen form should not be submitted to MAS. Only submissions via the online form will be accepted.
    • If there are any changes in the information provided in the application after submission, you will have to notify MAS via email immediately. 5. You will have to pay a non-refundable application fee for your application submission. Payments will only need to be made upon advice from MAS.
    • If there are any changes in the information furnished in the application after submission, the Monetary Authority of Singapore (the Authority) should be notified immediately. 8.
    • MAS
    • Speeches

    Last revised date:

    • MAS has been playing an important role in the IAIS.  An MAS representative sits on the Executive Committee and chairs the Education sub-committee. 
    • We hope this improvement in profitability will continue. 19   MAS studies have also concluded that the Singapore operations of reinsurers have not been adversely affected by the 911 event or asbestosis and liability claims. 
    • (VI) Role of Regulators: MAS' Supervisory Responses 29   Insurance regulators are being urged to pay more attention to reinsurance.  This is happening through the work of International Association of Insurance Supervisors (IAIS). 
    • MAS
    • Speeches

    Last revised date:

    • To this end, the Monetary Authority of Singapore (MAS) established an industry-led Steering Committee (or SC-STS The Steering Committee for SOR & SIBOR Transition to SORA or SC-STS is an industry-led Steering Committee tasked with overseeing the transition from SOR to SORA.
    • MAS also launched a daily SORA derivatives auction to facilitate price discovery, and develop SORA Overnight Index Swap (OIS) and SOR-SORA basis curves with prices quoted by dealers and brokers on key market data platforms.
    • Similarly, MAS will also extend the tenors and broaden industry participation in our SORA price discovery auctions. Since its launch in June last year, the number of participants in the auctions has doubled from six to twelve major banks.
    • MAS
    • Speeches

    Last revised date:

    • MAS is committed to continue reviewing our existing regulatory framework as new structures emerge in this highly dynamic industry. 
    • On our part, MAS will work with interested training institutes to tie up with Singapore-based educational institutes and bodies to meet this rising demand.
    • As a member of the Islamic Financial Services Board (IFSB), MAS also works with other IFSB countries to set regulatory and prudential standards to ensure the sound development of the industry. 
    • MAS
    • Speeches

    Last revised date:

    • MAS supports this initiative and will work with the industry to implement the new standards. 26.  A third area that MAS will strengthen relates to our understanding of financial stability issues for the insurance industry. 
    • Finally, on industry development, allow me to say something on insurance research and talent development, an area where MAS is very focused on. 30.  
    • MAS is committed to the area of talent development and we have worked alongside industry associations and indeed, specific firms in various manpower development programmes.
    • MAS
    • Speeches

    Last revised date:

    • MAS will put out next week for public consultation, proposals for updating our payments regulatory framework and forming a Payments Council.
    • Every month, MAS meets many FinTech firms that do not fit neatly into categories like remittance or stored value. Most internet-based stored value wallets today would be regulated under both the MCRBA and PS(O)A.
    • MAS has been working closely with the financial industry and other government agencies to drive electronic payments. We have also engaged KPMG Advisory to study Singapore’s payments landscape; KPMG’s report will be released later today.
    • MAS
    • Consultations

    Last revised date:

    • HENG SWEE KEAT Managing Director, Monetary Authority of Singapore. --------
    • HENG SWEE KEAT Managing Director, Monetary Authority of Singapore. -------- No.
    • MAS' R(cid:72)(cid:86)(cid:83)(cid:82)(cid:81)(cid:86)(cid:72) Premium Rates MAS' R(cid:72)(cid:86)(cid:83)(cid:82)(cid:81)(cid:86)(cid:72) I(cid:81) (cid:71)(cid:72)(cid:86)(cid:76)(cid:74)(cid:81)(cid:76)(cid:81)(cid:74) (cid:87)(cid:75)(cid:72) (cid:86)(cid:70)(cid:75)(cid:72)(cid:80)(cid:72),
    • MAS
    • Consultations

    Last revised date:

    • MAS' Response 4.2 12-month Time Period MAS' Response We do not agree with the suggestion.
    • MAS' Response We agree with the comment.
    • MAS' Response We note the respondents' concern.
    • MAS
    • Economic Essays

    Last revised date:

    • By the Economic Policy Group, Monetary Authority of Singapore This study was published as Special Feature A in the October 2022 Macroeconomic Review.
    • estimates Source: OECD and EPG, MAS estimates The larger contribution of indirect channels to price inflation in Singapore reflects the economys greater integration into global value chains.
    • Specifically, on a y-o-y basis, these items contributed to one quarter of both MAS Core inflation (4.4%) and CPI-All Items inflation (6.7%) in June.5 However, higher energy and food commodity prices could have elevated costs for a broader range of industries too, via domestic and