Singapore: Detailed Assessment of Compliance on the Basel Core Principles for Effective Banking Supervision

IMF Staff Country Reports, December 5, 2013

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Canonical URL: Singapore: Detailed Assessment of Compliance on the Basel Core Principles for Effective Banking Supervision

The Detailed Assessment evaluates the Monetary Authority of Singapore (MAS) against the Basel Core Principles for Effective Banking Supervision.
The assessment finds a "very high level of compliance" with the Basel Core Principles for Effective Banking Supervision.
MAS demonstrates a strong commitment to implementation of the Basel Core Principles.
MAS applies the same prudential framework to foreign branches as to its own locally incorporated banks, setting a high standard for approving foreign entrants.
MAS is "well aware of the risks posed by a financial system that is significantly larger than the economy of Singapore."

MAS’s prudential framework is applied equally to foreign branches and locally incorporated banks.
High standards for approving foreign entrants are part of MAS’s supervisory practice.
The assessment emphasizes MAS’s awareness and management of systemic risk arising from a financial system much larger than the domestic economy.

Subjects: Banking; Credit; Credit risk; Financial regulation and supervision; Liquidity risk; Market risk; Money; Operational risk; Stress testing
Keywords: banking group; CR; Credit; credit risk; Credit risk; Global; ISCR; Liquidity risk; Market risk; Operational risk; risk management; risk profile; senior management

INTRODUCTION — IMF assessment of Monetary Authority of Singapore
- INTRODUCTION — IMF assessment of Monetary Authority of Singapore (Markdown version)
- INTRODUCTION — IMF assessment of Monetary Authority of Singapore (PDF)