Regulatory Alerts2019-04-08
Added
Notice FNA-N01 Criteria of Rules of a Designated System
The Monetary Authority of Singapore issued this notice to establish the criteria for approving the rules of designated systems under the Payment and Settlement Systems (Finality and Netting) Act. The regulatory framework applies to designated payment system operators and settlement institutions to ensure compliance with statutory requirements. The document outlines the legal basis for these designations and references specific system orders, such as the Fast and Secure Transfers System.
Notices
Published Date: 08 April 2019
Notice FNA-N01 Criteria of Rules of a Designated System
This Notice sets out the criteria that the MAS will apply when considering an application to approve the Rules of a designated system under the Payment and Settlement Systems (Finality and Netting) Act.
Payment and Settlement Risk
Issued pursuant to:
Payment and Settlement Systems (Finality and Netting) Act (Cap. 231) section 20A read with section 19A(3)(a)
Applies to:
Designated Payment System Operator
,
Designated Payment System Settlement Institution
View Notice
Notice FNA-N01 Criteria of Rules of a Designated System
(249.5 KB)
30 June 2026 MAS Notice FNA-N01 (Amendment) 2026 dated 30 June 2026 (254.4 KB) takes effect from 1 July 2026.
8 April 2019 MAS Notice FNA-N01 2019 (359.8 KB) takes effect from 8 April 2019.
Order issued for the designation of Fast and Secure Transfers System under the Payment and Settlement Systems (Finality and Netting) Act.