Regulatory Alerts2021-06-25
Added · Updated
Notice on Lending of Singapore Dollar to Non-Resident Financial Institutions for Holders of Capital Markets Services Licence
This Notice governs the lending of Singapore Dollars by Capital Markets Services Licence Holders to non-resident financial institutions, excluding individuals and non-financial institutions. Licence Holders may provide S$ credit facilities up to S$5 million per entity without restriction, but must ensure proceeds exceeding this threshold are swapped or converted to foreign currency if used outside Singapore and must not facilitate currency speculation. Licence Holders are required to submit monthly reports of aggregate outstanding S$ lending to the Monetary Authority of Singapore within 10 working days after the reporting month and retain documentary evidence for audit purposes.
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