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- MAS
- Media Releases
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- Singapore, 8 February 2007...The Monetary Authority of Singapore (MAS) has released details of changes to the capital adequacy requirements for Singapore-incorporated banks. 2 Effective from 1 March 2007, MAS will lower the Tier 1 capital adequacy ratio (CAR) requirement from 7% to 6%.
- In November 1998, MAS allowed banks to meet up to 2% of the 12% requirement with Upper Tier 2 capital. Upper Tier 2 capital consisted of a portion of banks' unencumbered general provisions and subordinated debt instruments that met MAS' requirements.
- MAS also allowed banks to use funds raised from Innovative Tier 1 capital instruments to meet up to 15% of their Tier 1 CAR requirements. In September 2000, MAS increased the portion of the CAR requirement that can be met using Upper Tier 2 capital from 2% to 4%.
- MAS
- Parliamentary Replies
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- MAS will watch carefully how it works in practice, and will adjust the balance of responsibilities between MAS and SGX, should this prove necessary.
- MAS will assure itself that this is done effectively and responsibly.
- The Act also provides for MAS to directly regulate SGX's position as a company listed on its own exchange. 5 MAS recently (on 16 February 2001) issued a press statement, and the Deputy Managing Director, Mr Tharman Shanmugaratnam, made a speech which set out MAS' position in detail.
- MAS
- Media Releases
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- MAS has assessed that SGX did not have sufficient monitoring capabilities to meet contingencies. 4 MAS notes that remedial actions have since been taken to address the immediate root causes of the power outage.
- Singapore, 24 June 2015… The Monetary Authority of Singapore (MAS) has reprimanded the Singapore Exchange (SGX) for lapses related to the market outages on 5 November and 3 December 2014 and directed SGX to improve its recovery capabilities and processes.
- However, MAS is of the view that SGX’s service recovery requires improvements. First, SGX did not recover some of its critical systems within the four hour recovery time objective set out in the MAS Notice on Technology Risk Management.
- MAS
- Media Releases
Last revised date:
- Under the RNF, CEOs or Directors of FIs are required to certify that they are satisfied their proposed representatives meet MAS' fit and proper criteria when notifying MAS of their intention to appoint these representatives.
- MAS will not hesitate to take regulatory actions against FIs who have provided “fit and proper” certifications for their proposed representatives without a proper basis. 4 The new online public Register of Representatives will be available on MAS’ website.
- Representatives continue to be subject to the provisions of the SFA and FAA, and MAS has powers to take regulatory action should they breach these provisions. 3 MAS has reminded FIs, whether they are banks, insurers, holders of capital markets services licences or licensed financial advisers, that
- MAS
- Consultations
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- Please submit your written comments by 11 August 2011 to: Insurance Department Monetary Authority of Singapore 10 Shenton Way MAS Building Singapore 079117 Fax: 6229 9694 Email: rbc2011@mas.gov.sg Please note that all submissions received may be made public unless 3 confidentiality is specifically
- For authorised reinsurers, while they are not subject to MAS supervision since they do not have a commercial presence in Singapore, they maintain a statutory deposit with MAS that is commensurate with the amount of business they write from Singapore. 5.6 A concession was previously
- This consultation paper sets out MAS review of areas relating to credit risks arising from insurance contracts, and contagion risk arising from intra-group transactions.
- MAS
- Consultations
Last revised date:
- MAS invites interested parties to provide their comments and Primary Markets Conduct Division Market Conduct Department Monetary Authority of Singapore 10 Shenton Way MAS Building Singapore 079117 3 feedback on the draft legislation to: 4 MAS requests that
- MAS Response 2.3 We accept the 3 proposed early redemption features.
- The consultation closed on 30 September 2014 and MAS published its response to the feedback on 23 December 2014 (the Response Paper). 2 proposals set out in the MAS Response Paper.
- MAS
- Speeches
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- Licensees that provide payment services which carry ML/TF risks will also need to comply with ML/TF risk mitigating measures that MAS will impose under the MAS Act.
- 1 The Minister for Education, Mr Ong Ye Kung, on behalf of Mr Tharman Shanmugaratnam, Deputy Prime Minister and Minister-in-charge of the Monetary Authority of Singapore (“ MAS ”) today moved the Payment Services Bill (the “ Bill ”) for First Reading in Parliament.
- ; or (d) safeguarding in such other manner as may be prescribed by MAS. 14 To reduce fragmentation of widely-used payment solutions, MAS will have interoperability powers in the Bill which it may exercise where necessary.
- MAS
- Consumer Price Developments
Last revised date:
- MAS Core Inflation The Monetary Authority of Singapore (MAS) monitors a core inflation measure that excludes the components of Accommodation and Private Transport. These items are excluded as they tend to be significantly influenced by supplyside administrative policies and are volatile.
- https://www.mas.gov.sg/ A detailed review of MAS Core Inflation can be found in A Review of the Core Inflation /media/MAS/resource/publications/staff_papers/StaffPaperNo51.pdf 7 -------- Table A.1 Consumer Price Index of Key Categories Index (2019=100) All Items MAS Core Food Services
- Both MAS Core Inflation and CPIAll Items inflation averaged 0.2% in 2020. For 2021, MAS Core Inflation is expected to average 01%, while CPIAll Items inflation is projected to be between 0.5 and 0.5%.
- MAS
- Consultations
Last revised date:
- (c) MONETARY AUTHORITY OF SINGAPORE 18 --------
- MONETARY AUTHORITY OF SINGAPORE 1 -------- CONSULTATION ON DRAFT NOTICE TO HOLDERS OF STORED VALUE FACILITIES AUGUST 2007 Specialist Risk Supervision Department Monetary Authority of Singapore 10 Shenton Way, MAS Building Singapore 079117 Email: paymentsystems@mas.gov.sg Fax: (65) 6229
- Given this risk, the Monetary Authority of Singapore (MAS) plans to issue 3. directions on the preventive measures to be taken to limit the risk of SVF being used for illegitimate purposes.
- MAS
- Notices
Last revised date:
- 608 and MAS 609.
- 608 and MAS 609.
- [MAS Notice 610 (Amendment) 2020] [MAS Notice 610 (Amendment No. 2) 2020] 12.