Singapore: Report on the Observance of Standards and Codes

International Monetary Fund

No 2013/326, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses findings of the Report on Observance of Standards and Codes on Singapore. The Monetary Authority of Singapore (MAS) shows a very high level of compliance with the Basel Core Principles and demonstrates a strong commitment by MAS to their implementation. As a large financial center, MAS is well aware of the risks posed by a financial system that is significantly larger than the economy of Singapore, and comprised primarily of branches of foreign institutions operating in non-Singapore dollars. MAS has also set a high standard for approving foreign entrants, applying the same prudential framework to foreign branches as to its own locally incorporated banks.

Keywords: ISCR; CR; risk management; central bank; financial system; MAS staff; credit risk; MAS requirement; unit trust; FX market; MAS monitor; MAS process; Insurance companies; Collateral; Credit risk; Legal support in revenue administration; Global (search for similar items in EconPapers)
Pages: 70
Date: 2013-11-14
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