MAS designates seven domestic systemically important banks

monetary-authority-singapore
Monetary Authority of Singapore

The Monetary Authority of Singapore (MAS) today (April 30) named seven banks it considers systemically important to the country and proposed a regulatory framework for their supervision.

The list of domestic systemically important banks (D-Sibs) includes DBS Bank, Oversea-Chinese Banking Corporation, United Overseas Bank, Citibank, Malayan Banking Berhad, Standard Chartered and HSBC.

The banks will be required to locally incorporate their retail operations and will be subjected to higher capital

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