Regulatory Alerts2023-03-15
Added
MAS Notice 636 on Negotiable Certificates of Deposit
The Monetary Authority of Singapore issued Notice 636 to establish regulatory requirements for all banks issuing or acting as authorized depositories for negotiable certificates of deposit and bearer securities. The notice mandates specific standards for the issuance and safekeeping of these financial instruments to ensure operational integrity. It applies to full and wholesale banks, both locally incorporated and branches, under the authority of the Banking Act.
Notices
Last Revised Date: 15 March 2023
Notice 636 Negotiable Certificates of Deposit
Requirements for 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
Applies to:
Full Bank (Locally Incorporated)
,
Full Bank (Branch)
,
Wholesale Bank (Branch)
,
Wholesale Bank (Locally Incorporated)
View Notice
Notice 636 Negotiable Certificates of Deposit
(142.2 KB)
This notice applies to all banks that issue, or act as an authorised depository for negotiable certificates of deposit (NCD) or bearer securities. It sets out requirements on issuance and safekeeping of NCDs and bearer securities.
16 Mar 2023 MAS Notice 636 (Amendment) 2023 (152.8 KB) takes effect.
01 Jul 2021 MAS Notice 636 (Amendment) 2021 (605.2 KB) takes effect.
25 May 2004 MAS Notice 636 (Amendment) 2004 takes effect.
01 Mar 2004 MAS Notice 636 dated 01 March 2014 takes effect.
Guidelines on the permitted activities and restrictions for wholesale banks.