Regulatory Alerts2023-03-15
Added · Updated
MAS Notice 636 on Negotiable Certificates of Deposit
This Notice applies to all banks in Singapore that issue or act as an authorised depository for negotiable certificates of deposit (NCDs) or bearer securities. Banks issuing NCDs must use minimum denominations of S$100,000, or the foreign currency equivalent for foreign-denominated instruments. Every issued NCD and bearer security must be lodged with an authorised depository, which includes Singapore banks, merchant banks, the Depository under the Securities and Futures Act, Euroclear, Clearstream, or any other depository approved by the Monetary Authority of Singapore.
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