Singapore: Report on the Observance of Standards and Codes

November 14, 2013

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Format: Chicago

Singapore: Report on the Observance of Standards and Codes, (USA: International Monetary Fund, 2013) accessed November 23, 2024

Summary

This paper discusses findings of the Report on Observance of Standards and Codes on Singapore. The Monetary Authority of Singapore (MAS) shows a very high level of compliance with the Basel Core Principles and demonstrates a strong commitment by MAS to their implementation. As a large financial center, MAS is well aware of the risks posed by a financial system that is significantly larger than the economy of Singapore, and comprised primarily of branches of foreign institutions operating in non-Singapore dollars. MAS has also set a high standard for approving foreign entrants, applying the same prudential framework to foreign branches as to its own locally incorporated banks.

Subject: Banking, Collateral, Credit risk, Financial institutions, Financial regulation and supervision, Financial services, Insurance companies, Legal support in revenue administration, Revenue administration

Keywords: Central bank, Collateral, CR, Credit risk, Credit risk, Financial system, FX market, Global, Insurance companies, ISCR, Legal support in revenue administration, MAS monitor, MAS process, MAS requirement, MAS staff, Risk management, Unit trust

Publication Details

Pages:

70
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2013/326
Stock No:

1SGPEA2013002
ISBN:

9781475520309
ISSN:

1934-7685

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