Monetary Authority of Singapore (MAS)

Briefs: GXS raises deposit limit to $75,000; EY cautions on valuations ahead of Sabana's EGM; Sg politicians resign - THE EDGE SINGAPORE

Singapore news

Briefs: GXS raises deposit limit to $75,000; EY cautions on valuations ahead of Sabana's EGM; Sg politicians resign

Quoteworthy: "Singapore is very fortunate to have two of the best people I know running for President." - Ray Dalio.
GXS raises deposit limit from $5,000 to $75,000, savings accounts now open to public - THE EDGE SINGAPORE

Zest

GXS raises deposit limit from $5,000 to $75,000, savings accounts now open to public

The two digital banks here have reportedly been lobbying the Monetary Authority of Singapore to raise the $50 million deposit cap.
Environmental non-profit The Nature Conservancy opens Singapore office with EDB's support - THE EDGE SINGAPORE

Sustainability

Environmental non-profit The Nature Conservancy opens Singapore office with EDB's support

Thomas Brzostowski, interim Singapore country director, says the non-profit will recruit a permanent lead “in the coming months”.

Zest

MAS and National Bank of Cambodia to set up financial transparency corridor for SMEs

Named the financial transparency corridor (FTC) initiative, the MOU was signed on July 11.
Lending and staking restrictions present new challenges to Singapore crypto players - THE EDGE SINGAPORE

Cryptocurrency

Lending and staking restrictions present new challenges to Singapore crypto players

Most in the crypto industry believe this restriction is challenging and have lobbied instead for a middle ground.

Wealth

MAS to propose additional measures against SFO money laundering risks

The number of SFOs that were awarded tax incentives by the MAS grew to 1,100 as at end-2022.
MAS not switching from fighting inflation to supporting growth - THE EDGE SINGAPORE

Singapore economy

MAS not switching from fighting inflation to supporting growth

MAS’s monetary policy stance remains tight relative to the business cycle.
MAS posts net loss of $30.8 bil for FY2022/FY203 amid depressed market environment  - THE EDGE SINGAPORE

Results

MAS posts net loss of $30.8 bil for FY2022/FY2023 amid depressed market environment

As at March 31, total capital and reserves of MAS was $34.3 billion.
MAS requires DPTSPs to safekeep customers assets under statutory trust, proposes lending and staking restriction - THE EDGE SINGAPORE

Cryptocurrency

MAS requires DPTSPs to safekeep customers assets under statutory trust, proposes lending and staking restrictions

DPTSPs are required to safekeep customer assets under a statutory trust before the end of the year.

Singapore economy

Briefs: Singapore businesses 'unsure', 'pessimistic' on three-year outlook

Other news this week: MAS proposes to increase deposit insurance coverage to $100,000 and more.
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