The Monetary Authority of Singapore (Abbreviation: MAS; Chinese:新加坡金融管理局; Malay: Penguasa Kewangan Singapura) is Singapore's central bank and financial regulatory authority. It administers the various statutes pertaining to money, banking, insurance, securities and the financial sector in general, as well as currency issuance.
History
The MAS was founded in 1971 to oversee various monetary functions associated with banking and finance. Before its establishment, monetary functions were performed by government departments and agencies.
As Singapore progressed, an increasingly complex banking and monetary environment required more dynamic and coherent monetary administration. Therefore, in 1970, the Parliament of Singapore passed the Monetary Authority of Singapore Act leading to the formation of MAS on 1 January 1971. The act gives MAS the authority to regulate all elements of monetary policy, banking, and finance in Singapore.
In finance and economics, a monetary authority is the entity which controls the money supply of a given currency, often with the objective of controlling inflation or interest rates. With its monetary tools, a monetary authority is able to effectively influence the development of the short-term interest rates for that currency, but can also influence other parameters which control the cost and availability of money.
Classically, there is one monetary authority for one country with its currency. There are also other set-ups, e.g. when a group of countries have a joint currency like for the euro in the eurozone countries. In this case one monetary authority controls the money supply of one currency for a group of countries.
Generally, a monetary authority is a central bank with a certain degree of independence from the government(s) and its political targets and decisions. But depending on the political set-up, governments can have as much as a de facto control over monetary policy if they are allowed to influence or control their central bank.
The Singapore dollar or dollar (Malay: Ringgit Singapura, sign: $; code: SGD) is the official currency of Singapore. It is normally abbreviated with the dollar sign $, or alternatively S$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents.
Between 1845 and 1939, Singapore used the Straits dollar.
This was replaced by the Malayan dollar, and, from 1953, the Malaya and British Borneo dollar, which were issued by the Board of Commissioners of Currency, Malaya and British Borneo.
Singapore continued to use the common currency upon joining Malaysia in 1963, but only two years after Singapore's expulsion and independence from Malaysia in 1965, the monetary union between Malaysia, Singapore and Brunei broke down.
Singapore established the Board of Commissioners of Currency, Singapore, on 7 April 1967 and issued its first coins and notes. Nevertheless, the Singapore dollar was exchangeable at par with the Malaysian ringgit until 1973, and interchangeability with the Brunei dollar is still maintained.
Pearl smuggler Matt Gordon (Fred MacMurray) finds romance with Linda Grahame (Ava Gardner) just before the start of World War II. He proposes to her, and she accepts. However, when the Japanese attack Singapore, the church where she is waiting to marry him is bombed; Gordon searches frantically in the wreckage, but cannot find her. He is forced to sail away on his schooner.
With the end of the war, Gordon returns after five years and is met by Deputy Commissioner Hewitt (Richard Haydn), who is convinced he has returned for a hidden cache of pearls. So are Gordon's old criminal associates, Mr. Mauribus (Thomas Gomez) and his underling Sascha Barda (George Lloyd). Mauribus offers to buy the pearls, but Gordon denies he has any.
Singapore's central bank further tightened monetary policy settings. The Monetary Authority of Singapore, which manages its currency exchange rate as its main policy tool, re-centered its policy band higher and raised the slope. Selena Ling, head of treasury research and strategy at OCBC Bank, discusses the MAS's move on "Bloomberg Daybreak: Asia."
published: 14 Apr 2022
Singapore's MAS tightens monetary policy
The Singapore dollar is set to appreciate further after an off-cycle move by the country's central bank. The Monetary Authority of Singapore said that it is tightening monetary policy to help slow the momentum of inflation and ensure price stability.
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published: 14 Jul 2022
Graduate Officer@MAS: Journey of a Graduate Officer at MAS
Wonder what your journey might be like if you start with us after graduation? Let’s hear from Jeremy Hor, Deputy Director & Head, Transformation as he shares about his journey from working on Singapore Savings Bonds to driving transformation @ MAS.
published: 04 Dec 2020
Monetary Authority of Singapore - Educational Video on Inflation
A short animation video that explains the key inflation concepts. Firstly, what is inflation? Secondly, what are the causes of inflation? Thirdly, what are the effects of inflation? Finally, how does MAS help to manage inflation?
http://www.mas.gov.sg/eco_research/eco_education/Educational_video_on_inflation.html
published: 25 Aug 2011
Culture@MAS
Find out what MAS culture is like and what attributes we look for in individuals from Wong Zeng Yi, Assistant Managing Director, Organisational Development & People.
published: 08 Nov 2021
A look at how S$NEER is used in Singapore's monetary policy
The Monetary Authority of Singapore (MAS) is holding its regular, bi-annual review on Oct 14.
A poll of economists by Bloomberg suggests MAS may move to strengthen the Singapore dollar to curb inflationary pressures. The central bank relies on currency exchange rates and a trading band for the dollar to stabilise prices, rather than tweaking interest rates. The Singapore Dollar Nominal Effective Exchange Rate (S$NEER) is the main policy tool of MAS.
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published: 13 Oct 2022
Singapore Averts Recession; Monetary Authority Raises Currency Band
Singapore's economy averted a recession, with gross domestic product rising 1.5% from the previous quarter. On a year-on-year basis, the economy expanded 4.4% after a revised 4.5% growth in the previous quarter. And the central bank tightened monetary policy settings to keep fighting inflation. The Monetary Authority of Singapore, which uses the exchange rate of the local dollar as its main policy tool, re-centered the midpoint of the currency's policy band up to its prevailing level. Shery Ahn and Haidi Stroud-Watts report on Bloomberg Television.
published: 14 Oct 2022
Monetary Authority of Singapore plans to regulate trading of cryptocurrency derivatives
The Monetary Authority of Singapore (MAS) plans to regulate the trading of cryptocurrency derivatives, such as Bitcoin futures. It outlined the proposed changes in a consultation paper. The move aims to reduce the rising interest in cryptocurrencies from retail investors. MAS said the proposed regulations on the trading of payment token derivatives could soon be regulated under the Securities and Futures Act. The new measures are expected to kick in from June 2020.
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published: 20 Nov 2019
Monetary Authority of Singapore will have enhanced regulatory powers under Banking (Amendment) Bill
The Monetary Authority of Singapore (MAS) will get enhanced regulatory powers with amendments to the Banking Bill. The amendments expand the grounds on which MAS can revoke bank licences. MAS can now revoke a foreign bank's licence if the parent bank's licence is withdrawn. The regulator can also exercise its greater power when it assesses that it is in "the public interest" to do so.
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published: 06 Jan 2020
Monetary Authority of Singapore mulls expanding sustainable grant programme
The Monetary Authority of Singapore is mulling the idea of expanding its sustainable grant programme beyond bonds. While this means that there could be more "green" investing options available especially to retail clients, market watchers have said the lack of consistent reporting standards is a pressing issue that needs to be tackled.
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Singapore's central bank further tightened monetary policy settings. The Monetary Authority of Singapore, which manages its currency exchange rate as its main p...
Singapore's central bank further tightened monetary policy settings. The Monetary Authority of Singapore, which manages its currency exchange rate as its main policy tool, re-centered its policy band higher and raised the slope. Selena Ling, head of treasury research and strategy at OCBC Bank, discusses the MAS's move on "Bloomberg Daybreak: Asia."
Singapore's central bank further tightened monetary policy settings. The Monetary Authority of Singapore, which manages its currency exchange rate as its main policy tool, re-centered its policy band higher and raised the slope. Selena Ling, head of treasury research and strategy at OCBC Bank, discusses the MAS's move on "Bloomberg Daybreak: Asia."
The Singapore dollar is set to appreciate further after an off-cycle move by the country's central bank. The Monetary Authority of Singapore said that it is tig...
The Singapore dollar is set to appreciate further after an off-cycle move by the country's central bank. The Monetary Authority of Singapore said that it is tightening monetary policy to help slow the momentum of inflation and ensure price stability.
Subscribe to our channel here: https://cna.asia/youtubesub
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The Singapore dollar is set to appreciate further after an off-cycle move by the country's central bank. The Monetary Authority of Singapore said that it is tightening monetary policy to help slow the momentum of inflation and ensure price stability.
Subscribe to our channel here: https://cna.asia/youtubesub
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Wonder what your journey might be like if you start with us after graduation? Let’s hear from Jeremy Hor, Deputy Director & Head, Transformation as he shares ab...
Wonder what your journey might be like if you start with us after graduation? Let’s hear from Jeremy Hor, Deputy Director & Head, Transformation as he shares about his journey from working on Singapore Savings Bonds to driving transformation @ MAS.
Wonder what your journey might be like if you start with us after graduation? Let’s hear from Jeremy Hor, Deputy Director & Head, Transformation as he shares about his journey from working on Singapore Savings Bonds to driving transformation @ MAS.
A short animation video that explains the key inflation concepts. Firstly, what is inflation? Secondly, what are the causes of inflation? Thirdly, what are the ...
A short animation video that explains the key inflation concepts. Firstly, what is inflation? Secondly, what are the causes of inflation? Thirdly, what are the effects of inflation? Finally, how does MAS help to manage inflation?
http://www.mas.gov.sg/eco_research/eco_education/Educational_video_on_inflation.html
A short animation video that explains the key inflation concepts. Firstly, what is inflation? Secondly, what are the causes of inflation? Thirdly, what are the effects of inflation? Finally, how does MAS help to manage inflation?
http://www.mas.gov.sg/eco_research/eco_education/Educational_video_on_inflation.html
Find out what MAS culture is like and what attributes we look for in individuals from Wong Zeng Yi, Assistant Managing Director, Organisational Development & Pe...
Find out what MAS culture is like and what attributes we look for in individuals from Wong Zeng Yi, Assistant Managing Director, Organisational Development & People.
Find out what MAS culture is like and what attributes we look for in individuals from Wong Zeng Yi, Assistant Managing Director, Organisational Development & People.
The Monetary Authority of Singapore (MAS) is holding its regular, bi-annual review on Oct 14.
A poll of economists by Bloomberg suggests MAS may move to strengt...
The Monetary Authority of Singapore (MAS) is holding its regular, bi-annual review on Oct 14.
A poll of economists by Bloomberg suggests MAS may move to strengthen the Singapore dollar to curb inflationary pressures. The central bank relies on currency exchange rates and a trading band for the dollar to stabilise prices, rather than tweaking interest rates. The Singapore Dollar Nominal Effective Exchange Rate (S$NEER) is the main policy tool of MAS.
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The Monetary Authority of Singapore (MAS) is holding its regular, bi-annual review on Oct 14.
A poll of economists by Bloomberg suggests MAS may move to strengthen the Singapore dollar to curb inflationary pressures. The central bank relies on currency exchange rates and a trading band for the dollar to stabilise prices, rather than tweaking interest rates. The Singapore Dollar Nominal Effective Exchange Rate (S$NEER) is the main policy tool of MAS.
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Singapore's economy averted a recession, with gross domestic product rising 1.5% from the previous quarter. On a year-on-year basis, the economy expanded 4.4% a...
Singapore's economy averted a recession, with gross domestic product rising 1.5% from the previous quarter. On a year-on-year basis, the economy expanded 4.4% after a revised 4.5% growth in the previous quarter. And the central bank tightened monetary policy settings to keep fighting inflation. The Monetary Authority of Singapore, which uses the exchange rate of the local dollar as its main policy tool, re-centered the midpoint of the currency's policy band up to its prevailing level. Shery Ahn and Haidi Stroud-Watts report on Bloomberg Television.
Singapore's economy averted a recession, with gross domestic product rising 1.5% from the previous quarter. On a year-on-year basis, the economy expanded 4.4% after a revised 4.5% growth in the previous quarter. And the central bank tightened monetary policy settings to keep fighting inflation. The Monetary Authority of Singapore, which uses the exchange rate of the local dollar as its main policy tool, re-centered the midpoint of the currency's policy band up to its prevailing level. Shery Ahn and Haidi Stroud-Watts report on Bloomberg Television.
The Monetary Authority of Singapore (MAS) plans to regulate the trading of cryptocurrency derivatives, such as Bitcoin futures. It outlined the proposed changes...
The Monetary Authority of Singapore (MAS) plans to regulate the trading of cryptocurrency derivatives, such as Bitcoin futures. It outlined the proposed changes in a consultation paper. The move aims to reduce the rising interest in cryptocurrencies from retail investors. MAS said the proposed regulations on the trading of payment token derivatives could soon be regulated under the Securities and Futures Act. The new measures are expected to kick in from June 2020.
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The Monetary Authority of Singapore (MAS) plans to regulate the trading of cryptocurrency derivatives, such as Bitcoin futures. It outlined the proposed changes in a consultation paper. The move aims to reduce the rising interest in cryptocurrencies from retail investors. MAS said the proposed regulations on the trading of payment token derivatives could soon be regulated under the Securities and Futures Act. The new measures are expected to kick in from June 2020.
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The Monetary Authority of Singapore (MAS) will get enhanced regulatory powers with amendments to the Banking Bill. The amendments expand the grounds on which MA...
The Monetary Authority of Singapore (MAS) will get enhanced regulatory powers with amendments to the Banking Bill. The amendments expand the grounds on which MAS can revoke bank licences. MAS can now revoke a foreign bank's licence if the parent bank's licence is withdrawn. The regulator can also exercise its greater power when it assesses that it is in "the public interest" to do so.
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The Monetary Authority of Singapore (MAS) will get enhanced regulatory powers with amendments to the Banking Bill. The amendments expand the grounds on which MAS can revoke bank licences. MAS can now revoke a foreign bank's licence if the parent bank's licence is withdrawn. The regulator can also exercise its greater power when it assesses that it is in "the public interest" to do so.
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The Monetary Authority of Singapore is mulling the idea of expanding its sustainable grant programme beyond bonds. While this means that there could be more "gr...
The Monetary Authority of Singapore is mulling the idea of expanding its sustainable grant programme beyond bonds. While this means that there could be more "green" investing options available especially to retail clients, market watchers have said the lack of consistent reporting standards is a pressing issue that needs to be tackled.
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The Monetary Authority of Singapore is mulling the idea of expanding its sustainable grant programme beyond bonds. While this means that there could be more "green" investing options available especially to retail clients, market watchers have said the lack of consistent reporting standards is a pressing issue that needs to be tackled.
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Singapore's central bank further tightened monetary policy settings. The Monetary Authority of Singapore, which manages its currency exchange rate as its main policy tool, re-centered its policy band higher and raised the slope. Selena Ling, head of treasury research and strategy at OCBC Bank, discusses the MAS's move on "Bloomberg Daybreak: Asia."
The Singapore dollar is set to appreciate further after an off-cycle move by the country's central bank. The Monetary Authority of Singapore said that it is tightening monetary policy to help slow the momentum of inflation and ensure price stability.
Subscribe to our channel here: https://cna.asia/youtubesub
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Wonder what your journey might be like if you start with us after graduation? Let’s hear from Jeremy Hor, Deputy Director & Head, Transformation as he shares about his journey from working on Singapore Savings Bonds to driving transformation @ MAS.
A short animation video that explains the key inflation concepts. Firstly, what is inflation? Secondly, what are the causes of inflation? Thirdly, what are the effects of inflation? Finally, how does MAS help to manage inflation?
http://www.mas.gov.sg/eco_research/eco_education/Educational_video_on_inflation.html
Find out what MAS culture is like and what attributes we look for in individuals from Wong Zeng Yi, Assistant Managing Director, Organisational Development & People.
The Monetary Authority of Singapore (MAS) is holding its regular, bi-annual review on Oct 14.
A poll of economists by Bloomberg suggests MAS may move to strengthen the Singapore dollar to curb inflationary pressures. The central bank relies on currency exchange rates and a trading band for the dollar to stabilise prices, rather than tweaking interest rates. The Singapore Dollar Nominal Effective Exchange Rate (S$NEER) is the main policy tool of MAS.
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Singapore's economy averted a recession, with gross domestic product rising 1.5% from the previous quarter. On a year-on-year basis, the economy expanded 4.4% after a revised 4.5% growth in the previous quarter. And the central bank tightened monetary policy settings to keep fighting inflation. The Monetary Authority of Singapore, which uses the exchange rate of the local dollar as its main policy tool, re-centered the midpoint of the currency's policy band up to its prevailing level. Shery Ahn and Haidi Stroud-Watts report on Bloomberg Television.
The Monetary Authority of Singapore (MAS) plans to regulate the trading of cryptocurrency derivatives, such as Bitcoin futures. It outlined the proposed changes in a consultation paper. The move aims to reduce the rising interest in cryptocurrencies from retail investors. MAS said the proposed regulations on the trading of payment token derivatives could soon be regulated under the Securities and Futures Act. The new measures are expected to kick in from June 2020.
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The Monetary Authority of Singapore (MAS) will get enhanced regulatory powers with amendments to the Banking Bill. The amendments expand the grounds on which MAS can revoke bank licences. MAS can now revoke a foreign bank's licence if the parent bank's licence is withdrawn. The regulator can also exercise its greater power when it assesses that it is in "the public interest" to do so.
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The Monetary Authority of Singapore is mulling the idea of expanding its sustainable grant programme beyond bonds. While this means that there could be more "green" investing options available especially to retail clients, market watchers have said the lack of consistent reporting standards is a pressing issue that needs to be tackled.
Subscribe to our channel here: https://cna.asia/youtubesub
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The Monetary Authority of Singapore (Abbreviation: MAS; Chinese:新加坡金融管理局; Malay: Penguasa Kewangan Singapura) is Singapore's central bank and financial regulatory authority. It administers the various statutes pertaining to money, banking, insurance, securities and the financial sector in general, as well as currency issuance.
History
The MAS was founded in 1971 to oversee various monetary functions associated with banking and finance. Before its establishment, monetary functions were performed by government departments and agencies.
As Singapore progressed, an increasingly complex banking and monetary environment required more dynamic and coherent monetary administration. Therefore, in 1970, the Parliament of Singapore passed the Monetary Authority of Singapore Act leading to the formation of MAS on 1 January 1971. The act gives MAS the authority to regulate all elements of monetary policy, banking, and finance in Singapore.