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- Media Releases
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- The Bill introduces an additional 12% threshold, as announced in May 1999, at which MAS' approval is required.
- FACILITATING RISK-FOCUSED SUPERVISION Introduction of Flexibility for MAS to Prescribe Capital Adequacy Requirements on a Supervisory Basis 13 Presently, the Banking Act requires local banks to maintain a minimum capital adequacy ratio (CAR) of 12% or any other ratio prescribed by MAS.
- be disclosed, apart from statutory requirements under the Companies Act. 1 This is the Minister in charge of MAS, which is its Chairman. [ Back ] 2 This is to hold the bank accountable for preserving banking secrecy and to enable MAS to impose administrative sanctions in the event that the bank breaches
- MAS
- Consultations
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- MAS Response 3.3 MAS will adopt a holistic approach in assessing compliance with regulation 35.
- MAS Response 4.6 MAS will replace senior management with executive officer to better clarify the scope of application. Executive officer is an existing term that is defined in the BA and used in other MAS-administered legislation.
- Monetary Authority of Singapore 3 -------- RESPONSE TO FEEDBACK RECEIVED ON AMENDMENTS TO BANKING REGULATIONS AND BANKING (CG) REGULATIONS 30 July 2019 MAS Response 2.4 MAS will retain Regulation 3A Exemption but will not widen the scope of the exemption.
- MAS
- Notices
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- [MAS Notice 320 (Amendment) 2018] 12.
- [MAS Notice 320 (Amendment) 2020] 15.
- MAS
- Macroeconomic Reviews
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- * EPG, MAS estimates.
- MAS
- Speeches
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- Singapore’s OFR sit on the balance sheet of the Monetary Authority of Singapore (MAS), the central bank and integrated financial regulator.
- MAS, as Singapore’s central bank, manages the OFR. The process of accumulating or using OFR is intricately tied to MAS’ conduct of monetary policy.
- MAS’ investment horizon is longer than that of many central banks. This has given MAS the flexibility to invest in more volatile (and longer ‘duration’) asset classes beyond fixed income, including equities.
- MAS
- Enforcement Actions
Last revised date:
- Singapore, 2 December 2016… The Monetary Authority of Singapore (MAS) announced today that it has imposed financial penalties of S$5.2 million and S$2.4 million respectively on Standard Chartered Bank, Singapore Branch (SCB) and Coutts & Co Ltd, Singapore Branch (Coutts) for breaches of MAS’ anti-money
- MAS has also directed the bank to appoint an independent party to confirm that rectification measures have been effectively implemented and to report its findings to MAS.
- MAS has imposed on SCB financial penalties amounting to S$5.2 million for 28 breaches of MAS Notice 626 - Prevention of Money Laundering and Countering the Financing of Terrorism.
- MAS
- Media Releases
Last revised date:
- Singapore, 2 December 2016… The Monetary Authority of Singapore (MAS) announced today that it has imposed financial penalties of S$5.2 million and S$2.4 million respectively on Standard Chartered Bank, Singapore Branch (SCB) and Coutts & Co Ltd, Singapore Branch (Coutts) for breaches of MAS’ anti-money
- MAS has also directed the bank to appoint an independent party to confirm that rectification measures have been effectively implemented and to report its findings to MAS.
- MAS has imposed on SCB financial penalties amounting to S$5.2 million for 28 breaches of MAS Notice 626 - Prevention of Money Laundering and Countering the Financing of Terrorism.
- MAS
- Media Releases
Last revised date:
- Singapore, 21 November 2022… The Monetary Authority of Singapore (MAS) would like to address some questions and misconceptions that have arisen in the wake of the FTX.com (FTX) debacle. 2.
- MAS received several complaints about Binance between January and August 2021.
- The purpose of the IAL is to warn the public of entities that may be wrongly perceived as being MAS-regulated, especially those which solicit Singapore customers for financial business without the requisite MAS licence.
- MAS
- Enforcement Actions
Last revised date:
- MAS’ expectations of financial institutions 15 MAS requires financial institutions in Singapore to comply strictly with its regulations on anti-money laundering and countering the financing of terrorism.
- Imposition of financial penalties 14 MAS has also served BSI Bank notice to impose financial penalties amounting to $13.3 million for 41 breaches of MAS Notice 1014 - Prevention of Money Laundering and Countering the Financing of Terrorism.
- Singapore, 24 May 2016…The Monetary Authority of Singapore (MAS) announced today that it has served BSI Bank Limited (BSI Bank) notice of intention to withdraw its status as a merchant bank in Singapore for serious breaches of anti-money laundering requirements, poor management oversight of the bank’
- MAS
- Media Releases
Last revised date:
- MAS’ expectations of financial institutions 15 MAS requires financial institutions in Singapore to comply strictly with its regulations on anti-money laundering and countering the financing of terrorism.
- Imposition of financial penalties 14 MAS has also served BSI Bank notice to impose financial penalties amounting to $13.3 million for 41 breaches of MAS Notice 1014 - Prevention of Money Laundering and Countering the Financing of Terrorism.
- Singapore, 24 May 2016…The Monetary Authority of Singapore (MAS) announced today that it has served BSI Bank Limited (BSI Bank) notice of intention to withdraw its status as a merchant bank in Singapore for serious breaches of anti-money laundering requirements, poor management oversight of the bank’