Regulatory Alerts2022-05-26
Added
Guidelines for Operation of Wholesale Banks
The Monetary Authority of Singapore issued these guidelines to regulate the operations of wholesale banks in Singapore. The document outlines permissible banking activities, conditions for issuing bonds and negotiable certificates of deposit, and requirements for maintaining a place of business. It also establishes rules for the issuance and safekeeping of bearer securities, Asian Currency Unit operations, and SGD lending to non-resident financial institutions.
Guidelines
Last Revised Date: 26 May 2022
Guidelines for Operation of Wholesale Banks
Guidelines on the permitted activities and restrictions for wholesale banks.
Operations
Applies to:
Wholesale Bank (Branch)
,
Wholesale Bank (Locally Incorporated)
View Document
Guidelines for Operation of Wholesale Banks
(72.5 KB)
These guidelines apply to all wholesale banks in Singapore. They list out the requirements which a bank need to adhere to when operating under a wholesale banking licence in Singapore.
The guidelines cover:
Allowable banking business.
Conditions for issuing bonds and negotiable certificates of deposit in Singapore.
Place of business.
27 May 2022 Guidelines for Operation of Wholesale Banks (revised on 26 May 2022) takes effect.
1 Jul 2021 Guidelines for Operation of Wholesale Banks (revised on 11 June 2021) (266.8 KB) takes effect.
31 Jul 2008 Guidelines for Operation of Wholesale Banks (revised on 31 July 2008) (11.7 KB) takes effect.
Requirements for banks on the issuance and safekeeping of negotiable certificates of deposit and bearer securities.
Requirements for banks and merchant banks operating an Asian Currency Unit.
Governs the lending of SGD by banks to non-resident financial institutions, including requirements for submitting monthly returns.