Regulatory Alerts2004-05-28
Added
MAS Notice 816: Lending of Singapore Dollar to Non-Resident Financial Institutions
The Monetary Authority of Singapore issued revised Notice 816 to rename its policy from "Non-Internationalisation of the S$" to "Lending of S$ to Non-Resident Financial Institutions." The revision allows non-resident non-financial issuers of Singapore dollar bonds and equities to remit proceeds abroad without mandatory currency swaps, thereby granting them greater flexibility in fund management. This update reflects a further liberalization of the policy to support capital market development while maintaining safeguards against speculative borrowing by non-resident financial institutions.
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