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    • MAS
    • Consultations

    Last revised date:

    Consultation Paper on Group Capital Framework for a Designated Financial Holding Company (Licensed Insurer)
    • Reduction in credit spread risk requirement from MA 4.3.3.4 For portfolios where the MA is applied, a DFHC (Licensed Insurer) must reduce the C2 credit spread risk requirement by applying a modified MA (i.e. MA).
    • The DFHC (Licensed Insurer) must then add MA to the MA when determining the C2 credit spread risk requirement.
    • Diversification benefits are also not recognised between MA portfolios and non-MA portfolios given that the assets in the MA portfolios are managed separately to back the liabilities of the MA portfolios. The diagram below illustrates the high-level approach under RBC 2 for solo insurers.
    • MAS
    • Staff Papers

    Last revised date:

    Education For Growth: The Premium On Education And Work Experience In Singapore.
    • MONETARY AUTHORITY OF SINGAPORE i -------- January 2004 MAS Staff Paper No. 26 TABLE OF CONTENTS ABSTRACT TABLE OF CONTENTS 1. 2.
    • MONETARY AUTHORITY OF SINGAPORE 6 -------- 3. 3.1.
    • We also like to thank Dr Chow Hwee Kwan, MAS, for her comments. -------- January 2004 MAS Staff Paper No. 26 ABSTRACT This paper examines the education premium in Singapore.
    • MAS
    • Media Releases

    Last revised date:

    MAS Announces 65 Finalists for the 2022 Global FinTech Hackcelerator and FinTech Awards
    • Singapore, 28 October 2022… The Monetary Authority of Singapore (MAS) announced today the 65 finalists for the Global FinTech Hackcelerator, and the Singapore FinTech Festival (SFF) Global FinTech Awards.
    • Authority of Singapore 10 Shenton Way MAS Building Singapore 079117 Telephone: (65) 6225-5577 Monetary Authority of Singapore 10 Shenton Way MAS Building Singapore 079117 Telephone: (65) 6225-5577 Annex B About SFF Global FinTech Awards 2022 There are a total of nine award categories
    • Its objective is to support financial innovation and inclusion around the world. -------- Monetary Authority of Singapore 10 Shenton Way MAS Building Singapore 079117 Telephone: (65) 6225-5577 SFF Global FinTech Awards Finalists (MAS Categories) Company Name Solution Caption Description
    • MAS
    • Speeches

    Last revised date:

    "The Payment Systems (Oversight) (Amendment) Bill 2012" - Second Reading Speech by Mr Lawrence Wong, Acting Minister for Culture, Community and Youth, Senior Minister of State, Ministry of Communications and Information on 14 January 2013
    • Exclude the Application of Parts V and VI of the PSOA to MAS 6   MAS is the operator, settlement institution and regulator of MEPS+, which is the New MAS Electronic Payment and Book-Entry System. 
    • This Bill seeks to strengthen MAS’ oversight over designated payment systems and align MAS’ regulatory framework for payment systems with international standards. 
    • direction, a minimum period of time must pass before MAS can intervene. 
    • MAS
    • Media Releases

    Last revised date:

    MAS Proposes Further Revisions to Risk Based Capital Framework for Insurers
    • Given the consultation feedback, MAS proposes revisions to widen the eligibility criteria for the use of the MA.
    • To address this issue, MAS consulted in 2014 on the use of an MA. This is a parallel upward adjustment to the risk-free rates used for discounting the eligible liability cash flows.
    • Introduction of an illiquidity premium (IP) adjustment For products that do not qualify for the MA, MAS proposes to introduce a more generic illiquidity premium for life insurers, which works in a similar way as the MA but will accord a smaller adjustment, to the rate for discounting
    • MAS
    • Media Releases

    Last revised date:

    MAS Announces Results of 2nd Phase of Banking Liberalisation ProgrammeTwo Additional Foreign Banks named Qualifying Full Banks.16 Wholesale Banks announced.
    • [Details of MAS' earlier announcements of the banking liberalisation package as well as MAS' evaluation criteria are appended at Annex 1.]
    • Please refer to earlier announcements available on the MAS website at www.mas.gov.sg , for more information on the Banking Liberalisation Package: *  17 May 99 "MAS Announces Programme To Liberalise Commercial Banking and Upgrade Local Banks" - Policy Statement by the MAS; *  20 Oct 99 "MAS Announces
    • The Monetary Authority of Singapore (MAS) announced today the award of additional Qualifying Full Bank (QFB) and Wholesale Banking (WB) privileges, which will take effect from 1 January 2002.
    • MAS
    • Financial Stability Reviews

    Last revised date:

    Financial Stability Review 2012
    • As pressures for euro zone banks to deleverage Monetary Authority of Singapore Source: MAS Chart 2.3.5 ACU Cross-Border Non-Bank Loans by Region Source: MAS Chart 2.3.6 Trade Finance and Syndicated Loan Market Shares by Bank Nationality Source: MAS
    • Monetary Authority of Singapore Source: MAS Chart 2.3.14 DBU Non-Bank Loans to GDP ratio Source: DOS, MAS estimates Chart 2.3.15 Banking System Non-SGD Non-Bank Loan-To-Deposit Ratio Source: MAS Macroeconomic Surveillance Department 01234562004Q32006200820102012Q3Per
    • Authority of Singapore (MAS) and Bank of Thailand (BoT).
    • MAS
    • Notices

    Last revised date:

    Notice 626 Prevention of Money Laundering and Countering the Financing of Terrorism – Banks
    • [MAS Notice 626 (Amendment) 2022] [MAS Notice 626 (Amendment) 2022] 12.
    • [MAS Notice 626 (Amendment) 2021] [MAS Notice 626 (Amendment) 2022] [MAS Notice 626 (Amendment) 2021] [MAS Notice 626 (Amendment) 2022] [MAS Notice 626 (Amendment) 2022] 3. Finance companies licensed under section 6 of the Finance Companies Act (Cap. 108) 1967. 4.
    • Amendment Notes 01 Mar 2022 MAS Notice 626 Amendment 2022 (326.2 KB) takes effect. 28 Jun 2021 MAS Notice 626 (Amendment) 2021 (449.5 KB) takes effect. 30 Nov 2015 MAS Notice 626 (Amendment) 2015 (34.3 KB) takes effect. 24 May 2015 MAS Notice 626 dated 24 April 2015 (304.4 KB) takes effect, except for
    • MAS
    • Media Releases

    Last revised date:

    Consultation on Adjustment Spreads for the Transition of Legacy SOR Contracts in Wholesale Markets
    • For further queries related to the SC-STS consultation paper, please email ABS Co at SORTransition@abs.org.sg. *** Note to Editors: About the Monetary Authority of Singapore (MAS) The Monetary Authority of Singapore (MAS) is Singapore’s central bank and integrated financial regulator.
    • Singapore, 18 May 2022…The Monetary Authority of Singapore (MAS) and the Steering Committee for SOR & SIBOR Transition to SORA SOR is the Singapore Dollar (SGD) Swap Offer Rate and SIBOR is the Singapore Interbank Offered Rate.
    • Steering Committee for SOR & SIBOR Transition to SORA (SC-STS) The Committee was established by the Monetary Authority of Singapore (MAS) to oversee the industry-wide interest rate benchmark transition from SOR to SORA in August 2019.
    • MAS
    • Notices

    Last revised date:

    Notice 608 Disclosure in Financial Statements
    • Amendment Notes 21 December 2020 MAS Notice 608 (Amendment) 2020 (135.2 KB) takes effect from 22 December 2020. 01 March 2006 MAS Notice 608 dated 01 March 2006 takes effect. 01 March 2006 MAS Notice 608 dated 11 November 2002 is cancelled.
    • MAS Notice 608 dated 11 November 2002 is cancelled with effect on 1 March 2006. 2. MAS Notice 608 dated 1 March 2006 takes effect on 1 March 2006. 3.
    • [MAS Notice 608 (Amendment) 2020] This Notice shall take immediate effect. MAS Notice 608 dated 11 November 2002 is Commencement Date of Notice 9 cancelled with immediate effect. -------- *Notes on history of amendments: 1.