Regulatory Alerts2021-06-28
Added · Updated
MAS Notice 1110: Negotiable Certificates of Deposit
Merchant Banks in Singapore must issue negotiable certificates of deposit (NCDs) denominated in foreign currency in minimum denominations equivalent to S$100,000. These banks must lodge every issued NCD and bearer security with an authorized depository, which includes banks or merchant banks in Singapore, the Depository under the Securities and Futures Act, Euroclear, Clearstream, or any other depository approved by the Authority. This Notice applies to all Merchant Banks that issue or act as an authorized depository for NCDs or bearer securities and takes effect on 1 July 2021.
Notices
Last Revised Date: 28 June 2021
Notice 1110 Negotiable Certificates of Deposit
Requirements for merchant banks on the issuance and safekeeping of negotiable certificates of deposit and bearer securities.
Negotiable Certificates of Deposits
Issued pursuant to:
Banking Act (Cap.19) section 55(1) as applied by section 55ZJ(1)
Applies to:
Merchant Bank (Locally Incorporated)
,
Merchant Bank (Branch)
View Notice
Notice 1110 Negotiable Certificates of Deposit
(420.4 KB)
This notice applies to merchant banks which issue, or act as an authorised depository for negotiable certificates of deposit (NCDs) or bearer securities. It sets out the requirements on issuance and safekeeping NCDs and bearer securities.
01 Jul 2021 MAS Notice 1110 dated 28 June 2021 takes effect.
01 Jul 2021 MAS Notice 1110 dated 1 March 2004 (last revised 25 May 2004) (90.5 KB) is cancelled .
25 May 2004 Notice 1110 (Amendment) 2004 takes effect.
01 Mar 2004 MAS Notice 1110 dated 01 March 2014 takes effect.
Guidelines on the permitted activities and restrictions for merchant banks.
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