Singapore moots expanding deposit guarantees

singapore

The Monetary Authority of Singapore (MAS) on Thursday proposed that its deposit insurance scheme be extended in both scope and coverage limit, ahead of the expiry of an emergency guarantee on 31 December this year.

The central bank issued a consultation paper proposing that cover be extended to the deposits of small businesses, which are excluded from protection under the current scheme. Coverage would be "expanded beyond deposits of individuals and charities, and will now include other non-bank

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