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Market Infrastructure
Fed Establishes Repo Facility to Ease USD Funding Stress
By Editors | 31/03/2020
Foreign central banks can temporarily exchange their US Treasury holdings with the Fed for US dollars, which can then be made available to institutions in their own jurisdictions.
MAS Unveils Debt Relief Measures for Individuals, SMEs
By Editors | 31/03/2020
Mortgage loans and SME term loans can be deferred. Credit card balances can be converted to low-cost term loans. Insurance payments can be deferred or rescheduled.
Capital / Liquidity
Covid-19 Puts Financial Regulation Under Stress
By Peter Guy | 30/03/2020
Business continuity plans, social distancing measures, economic stimulus and liquidity constraints are hindering banks’ abilities to stay consistent with regulators’ expectations, says Peter Guy.
Market Infrastructure
MAS Eases SGD Policy Amid Negative Growth Expectations
By Editors | 30/03/2020
MAS projects the ongoing wave of Covid-19 outbreaks will continue to dampen global growth beyond the first half of the year.
MAS Offers Banks US Dollar Funding
By Editors | 26/03/2020
Banks are “strongly encouraged” to avail themselves of MAS liquidity facilities so that they can better serve customers.
Market Infrastructure
Singapore Stimulus Plan to Catalyse Private Sector Loans
By Editors | 26/03/2020
MAS is working with banks and insurers to see how best to help businesses and individuals with loan obligations and insurance premium payments.
Securities / Derivatives
MAS, ACRA, SGX RegCo Set Out Expectations on Meeting Conduct
By Editors | 26/03/2020
MAS, SGX RegCo and ACRA expect all issuers to comply with the Ministry of Health’s mandatory safe distancing measures. Legislative amendments will be introduced.
Capital / Liquidity
HK, Singapore, Indonesia Assessed as NSFR, LEX Compliant
By Editors | 22/03/2020
Hong Kong, Singapore and Indonesia were assessed as compliant with global standards for the net stable funding ratio and large exposures framework.
AML / KYC
MAS Penalises Trust Company for AML/CFT Failings
By Editors | 20/03/2020
TMF Trustees Singapore was penalised SG$400,000 for failing to verify the source of wealth and monitor transactions on an ongoing basis.
Market Infrastructure
Singapore Steering Committee Publishes SORA Transition Roadmap
By Editors | 19/03/2020
Banks aim to start active trading in SORA derivatives in the second half of the year, and SORA-based loans will launch by year-end.
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