Singapore
Singapore central bank creates AML and enforcement departments
Monetary Authority of Singapore hopes to “enhance supervisory focus”; shake-up follows what Ravi Menon described as the worst case of control lapses in the financial sector
Menon encourages Chinese companies to explore offshore
Managing director of MAS considers connectivity between China and South-east Asia; suggests corporates recycle capital through securitisation
MAS prepares ‘sandbox’ for fintech testing
Aim is to test potentially unstable innovations in an environment where consumers and financial stability will largely be shielded from the consequences of failure
Regulators sanction Swiss bank over links to Malaysian government fund
Swiss regulators impose range of measures on bank for breaching anti-money-laundering regulations; MAS will withdraw bank’s licence to act as merchant bank in Singapore
MAS official sets sight on expanding cyber insurance
Bernard Wee considers how demand- and supply-side challenges hindering the cyber insurance market are being addressed
People: Nagel leaves Bundesbank; GIC makes string of appointments
Joachim Nagel steps down from Deutsche Bundesbank executive board; Singapore’s sovereign wealth fund creates new posts and fills others; East African Community gets new secretary-general
MAS director hails work on natural catastrophe data
Bernard Wee introduces Natural Catastrophe Data Analytics Exchange, aimed at remedying “gappy” expertise in the region
Singapore official points to benefits big data offers insurers
Insurers can gain a competitive edge by harnessing insights from big data when designing products, the Monetary Authority of Singapore’s Chua Kim Leng says
Singapore mulls increasing central bank’s regulatory powers
Singapore’s parliament is considering a draft law that would expand the central bank’s regulatory powers over domestic and foreign-owned banks
Visitors to ‘play policy-maker’ at new MAS gallery
Monetary Authority of Singapore launches latest financial literacy initiative; visitors able to ‘play policy-maker’ through interactive programs
Review sees 'fault lines' emerging in global asset management ecosystem
Monetary Authority of Singapore review urges financial industry to remain ‘vigilant’ against emerging risks
MAS eases policy in first move since January
Singapore's central bank cuts rate at which currency is allowed to strengthen amid Asia slowdown; keeps width and centre of policy band unchanged
Macro-prudential tools can influence inflation, Menon says
MAS managing director outlines interaction of prudential tools and monetary policy, saying Singapore deliberately used macro-prudential tools to help lower inflation
RBI deputy urges banks to address asset quality challenges
SS Mundra discusses challenges facing India’s otherwise ‘vibrant’ banking system; asset quality poses challenges to banks and supervisors
SGX 'ahead of the curve' on CCP capital, argues director
Singapore Exchange puts up 25% of the capital in its default waterfall, while European and US CCPs contribute 2.6% on average
Singapore MD imagines gleaming future for island state
Ravi Menon delivers a speech looking back from an imagined 2065, highlighting the potential of both Singapore and the wider South-east Asian economy
MAS enlists financial leaders to 'co-create' industry policies
Advisory panel comprising 26 industry leaders will provide "insights and experience" to central bank efforts aimed at making Singapore's financial sector more competitive
Setting risk appetite key foundation for risk culture, speakers at OpRisk Asia say
Efforts to change risk culture should focus on a few 'risk champions' in each department, the OpRisk Asia conference in Singapore hears today
MAS to set up financial technology and innovation unit
Central bank rejigs organisation as part of efforts to turn Singapore into ‘smart' financial centre; hires a global head from Citi to lead new group
First cross-border repo executed in Chinese bond market
ICBC's Singapore branch raises 200 million yuan on China's interbank bond market in first deal since PBoC scrapped limits on offshore access to $5.7tn market earlier this year
MAS committing over $150m to help foster innovation
Ravi Menon reveals plans to help create a ‘vibrant ecosystem for innovation’ including the provision of funds to help lure banks into basing their R&D centres in the country
IMF paper says ‘one size does not fit all’ with macro-prudential frameworks
Working paper examines use of macro-prudential policy in Hong Kong, the Netherlands, New Zealand, Singapore and Sweden
MAS designates seven domestic systemically important banks
The Monetary Authority of Singapore has identified seven systemically important domestic banks, which will have to locally incorporate their retail operations and meet higher capital requirements
Singapore inflation to ease before rising at end of 2015
CPI inflation could be negative on a year-on-year basis for consecutive months, which MAS says reflects ‘falling car prices, housing rentals, and costs of oil-related items’