Regulatory Alerts2000-12-06
Added
Internationalisation of the Singapore Dollar
The Monetary Authority of Singapore issued a revised MAS Notice 757 to reaffirm its non-internationalisation policy while liberalizing specific banking activities. Banks are now permitted to lend Singapore dollars to non-residents for local investments, offshore use subject to currency swaps, and various derivative transactions. The update also streamlines administrative requirements by removing prior consultation needs for certain bond issues and simplifying reporting for interest rate derivatives.
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