Regulatory Alerts2013-10-22
Added
BD 08/2013: Conduct of Renminbi (RMB) Business in Singapore
The Monetary Authority of Singapore issued BD 08/2013 to define the scope of Renminbi business activities permissible for authorized banks and merchant banks in Singapore. This circular applies to all categories of licensed institutions, including wholesale, merchant, and full banks, both locally incorporated and as branches. It provides regulatory guidance and clarifications on frequently asked questions regarding the conduct of RMB business and foreign exchange conversion via the Renminbi Clearing Bank.
Circulars
Published Date: 22 October 2013
BD 08/2013: Conduct of Renminbi (RMB) Business in Singapore
Provides information on the scope of RMB business that banks and merchant banks can conduct in Singapore.
Renminbi Business
Applies to:
Wholesale Bank (Locally Incorporated)
,
Wholesale Bank (Branch)
,
Merchant Bank (Locally Incorporated)
,
Merchant Bank (Branch)
,
Full Bank (Locally Incorporated)
,
Full Bank (Branch)
View Document
BD 08/2013: Conduct of Renminbi (RMB) Business in Singapore
(113 KB)
View Annex A (117.6 KB)
22 Oct 2013
FSG Circular No. BD 04/2013 dated 23 May 2013 (131.7 KB) [Cancelled]
Requirements for merchant banks conducting foreign exchange conversion in China via the Renminbi Clearing Bank.
Requirements for banks conducting foreign exchange conversion in China via the Renminbi Clearing Bank.
Provides clarifications to some frequently asked questions on the conduct of RMB business activities in Singapore.