Notice 1116 Foreign Exchange Conversion in China via the Renminbi Clearing Bank for the Settlement of Eligible Cross-Border Trade

Notices

Last Revised Date: 28 June 2021

Notice 1116 Foreign Exchange Conversion in China via the Renminbi Clearing Bank for the Settlement of Eligible Cross-Border Trade

Requirements for merchant banks conducting foreign exchange conversion in China via the Renminbi Clearing Bank.

Renminbi Business

Issued pursuant to:

Monetary Authority of Singapore Act (Cap. 186) section 28(3)

Applies to:

Merchant Bank (Locally Incorporated)

,

Merchant Bank (Branch)

View Notice

Notice 1116 Foreign Exchange Conversion in China via the Renminbi Clearing Bank for the Settlement of Eligible Cross-Border Trade

(167.5 KB)

This notice applies to all merchant banks in Singapore that conduct foreign exchange conversion in China via the Renminbi Clearing Bank for the settlement of eligible cross-border trade. It sets out the requirements for merchant banks to comply with, including verification of eligible trade, record keeping and reporting.

Note:

MAS has issued a revised Notice 1116 (433.3 KB) that will take effect from 1 July 2021.

01 Aug 2014

MAS Notice 1116 (Amendment) 2014 (90.2 KB) takes effect.

23 Oct 2013

MAS Notice 1116 (Amendment) 2013 (140.6 KB) takes effect. 09 Jul 2013

MAS Notice 1116 dated 09 July 2013 takes effect.

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