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    • 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
    • MAS
    • Speeches

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    • 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
    • MAS
    • Parliamentary Replies

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    • Issues Raised in Parliament ANSWER TO PARLIAMENTARY QUESTION ON: DPM Lee's Reply to Parliamentary Question on CLOB For Parliament Sitting on 12 Oct 98 Question: To ask the Deputy Prime Minister, in the light of recent changes imposed by Malaysia on the currency and stock market rules, what steps are being taken by the Monetary Authority of Singapore and the Stock Exchange of Singapore Ltd to provide a better sense of direction and assistance to the public so that they will be adequately prepared.
    • MAS
    • Speeches

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    • Speech by DPM Lee Hsien Loong, Chairman MAS at MAS Scholarship Ceremony 2001 Date: 25 Jun 2001 WELCOME REMARKS 1   I am very happy to be here this afternoon for the MAS scholarships presentation. This ceremony is to present scholarship awards to 13 promising youths, and to celebrate their becoming a part of the MAS community. To each of the new scholars, their families and educators, I offer my warmest congratulations. You have done well. THIS YEAR'S SCHOLARS 2   MAS' mission is to promote sustained
    • SSO
    • Subsidiary Legislation

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    • THE SCHEDULE Paragraph 2 Statutory bodies specified to be public agencies Statutory body Act under which established or constituted 1. Accounting and Corporate Regulatory Authority Accounting and Corporate Regulatory Authority Act (Cap. 2A) 2. Agency for Science, Technology and Research (A*STAR) Agency for Science, Technology and Research Act (Cap. 5A) 3. [ Deleted by S 402/2019 wef 01/04/2019 ]   4. Board of Architects Architects Act (Cap. 12) 5. Building and Construction Authority Building and
    • MAS
    • Forms and Templates

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    • Form for banks, merchant banks and other exempt persons providing trust services to notify MAS of their commencement of trust business within 1 month from the date of commencement of trust business. New corporations should submit Form 8 via https://go.gov.sg/noticeofcommencementofbusiness-form8 . TRUST COMPANIES ACT 2005 TRUST COMPANIES (EXEMPTION) REGULATIONS 2005 FORM 8 NOTICE OF COMMENCEMENT OF TRUST BUSINESS OF PERSON EXEMPTED FROM HOLDING A TRUST BUSINESS LICENCE UNDER SECTION 15(1)(a),
    • MAS
    • Monetary Policy Statements

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    • 14 October 2016 INTRODUCTION 1.   In April 2016, MAS reduced the slope of the Singapore dollar nominal effective exchange rate (S$NEER) policy band to zero percent. There was no change to the width of the policy band or the level at which it was centred. This policy stance was assessed to be appropriate given the more modest outlook for economic growth in 2016 as well as the expectation that MAS Core Inflation would average slightly below 2% in the medium term. Chart 1 S$ Nominal Effective Exchange
    • MAS
    • Monetary Policy Statements

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    • 13 October 2017 INTRODUCTION 1.     In the April 2017 Monetary Policy Statement (MPS), MAS kept the slope of the Singapore dollar nominal effective exchange rate (S$NEER) policy band at zero percent, with no change to the width of the policy band or the level at which it was centred. This policy stance was assessed to be appropriate in light of the modest outlook for growth and inflation. Chart 1 S$ Nominal Effective Exchange Rate (S$NEER) 2.     Since the April 2017 MPS, the S$NEER has fluctuated
    • MAS
    • External Publications

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    • Financial Action Task Force (FATF)'s guidance for implementing the risk-based approach for financial institutions in the securities sector. The Financial Action Task Force (FATF) published in October 2018 a “Guidance for a Risk-Based Approach for the Securities Sector” (FATF Guidance). The FATF Guidance can be found at the FATF website: http://www.fatf-gafi.org/publications/fatfrecommendations/documents/rba-securities-sector.html . The Guidance was developed in partnership with the private sector