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- MAS
- Monetary Policy Statements
Last revised date:
- 14 April 2022 INTRODUCTION 1. In the January 2022 Monetary Policy Statement (MPS), MAS increased slightly the slope of the Singapore dollar nominal effective exchange rate (S$NEER) policy band. There was no change to the width of the policy band or the level at which it was centred. This off-cycle move was assessed to be necessary in view of the upward revision to the MAS Core Inflation forecast amid rapidly accumulating external and domestic cost pressures. Chart 1 S$ Nominal Effective Exchange
- MAS
- Media Releases
Last revised date:
- Singapore, 5 November 2014 … In response to media queries on the trading halt experienced by SGX’s securities and derivatives markets, the MAS Spokesperson said that SGX has informed MAS that its securities and derivatives market systems were not functioning due to a technical fault. During the trading halt, all SGX members were disconnected from SGX’s trading engines. MAS understands that affected members were duly informed and securities market services resumed after 5.15pm today while derivatives
- MAS
- Letters to Editor
Last revised date:
- Dear Editor Mr Peter Wadeley wrote that the Financial Advisers Act (FAA) should apply to all financial institutions in Singapore ("Protect investors in financial products", ST Forum, 6 August 2009). In fact, it does. Any corporation which carries on the business of providing retail financial advisory services is required to obtain a financial adviser's license unless it is an exempt financial adviser under the FAA. Financial institutions which are licensed under the Banking Act or registered under
- MAS
- Speeches
Last revised date:
- Good morning. Welcome to MAS’ Annual Report press conference. 2 I want to focus on four key themes with a forward looking orientation: first, prospects for GDP growth , second, the outlook for inflation , third, MAS’ financial accounts, and fourth, maintaining high standards of financial regulation . 3 Let me begin with the economy. Singapore’s GDP growth forecast range remains at 5 – 7% for now, but uncertainties have clearly increased. 4 As you know, economic growth took a sharp step-down
- MAS
- Speeches
Last revised date:
- Distinguished guests, ladies and gentlemen, good morning. Asia’s Changing Risk Landscape These are interesting times for the insurance industry. The operating environment has become more challenging. Underwriting results are being pressured by a combination of sluggish economic growth, softening rates, and rising claims. Investment returns are being depressed by the low interest-rate environment. In Europe, for instance, returns on long-term safe assets are at their lowest since the creation of
- MAS
- Exemptions
Last revised date:
- This Compliance Toolkit is to guide and facilitate captive insurers’ compliance with the various MAS approval and reporting requirements and timelines. Monetary Authority of Singapore COMPLIANCE TOOLKIT FOR CAPTIVE INSURERS Approvals, Notifications and Regulatory Submissions to MAS ISSUED NOVEMBER 2022 1 -------- Key Legislative, Regulatory
- MAS
- Circulars
Last revised date:
- Circular to Fund Management Companies on Enhancing Anti-Money Laundering & Countering the Financing of Terrorism Measures and Business Conduct This circular was issued following a series of thematic inspections carried out between 2014 and 2015 which covered licensed and registered fund management companies, with regard to their AML/CFT practices, handling of customers’ moneys and assets, and record keeping. It sets out common findings, and good practices observed during the inspections. 2 10
- MAS
- Notices
Last revised date:
- Requirements and best practice standards on continuing professional development for insurance brokers and their broking staff. This notice applies to all registered insurance brokers, exempt insurance brokers and their broking staff. It sets out: Minimum standards and examination requirements for broking staff. Submission requirements for appointment of broking staff. Continuing professional development for broking staff. Amendment Notes 1 Nov 2021 Appendix 1 (Amendment) 2021 (91 KB) takes effect
- MAS
- Media Releases
Last revised date:
- Singapore, 5 December. In June last year, the Monetary Authority of Singapore (MAS) called on major banks active in the retail market to put together a Basic Bank Account (BBA). Increasing competition had put pressure on these banks to recover some of the cost of providing banking services to small depositors. With a BBA in place, banks cannot opt out of servicing the basic banking needs of lower income Singaporeans. MAS welcomes ABS' announcement of the features of the BBA. The 22 transactions
- SSO
- Subsidiary Legislation
Last revised date:
- Application by subscriber to confirm listing in register 5. —(1) Subject to regulation 6, an application by a subscriber under section 40(2) of the Act to confirm whether his Singapore telephone number is listed in a register (referred to in these Regulations as a subscriber confirmation application) shall be made — ( a ) by making a voice call to the relevant telephone number using the relevant telecommunication service; ( b ) by sending an SMS message to the relevant telephone number using the