Singapore to undergo IMF’s financial sector assessment programme

SINGAPORE (Aug 1): The Monetary Authority of Singapore (MAS) announced today that Singapore will undergo the International Monetary Fund (IMF)’s Financial Sector Assessment Programme (FSAP) this year.

The programme will assess the resilience of Singapore’s financial sector, the quality of MAS’s regulatory framework and supervision, and capacity of authorities to manage and resolve financial crises. This will be Singapore’s third FSAP assessment.

The scope of the FSAP will include a stress test of the financial system under hypothetical macroeconomic scenarios; MAS’s regulatory and supervisory approaches covering fintech and cybersecurity as well as MAS Electronic Payments System (MEPS+) which is a critical payments system; Singapore’s macroprudential policy framework to mitigate systemic financial risk; and MAS’s regime for managing crises and resolving banks in an orderly manner.

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