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MAS to cut distinction between int'l, domestic banking ops

Tharman says the domestic banking unit-Asian currency unit divide has been losing its relevance over the years

Published Tue, Jun 30, 2015 · 09:50 PM

Singapore

THE Monetary Authority of Singapore (MAS) plans to remove a longstanding division between two accounting units for assets and liabilities held by banks here: one for those held mainly in Singapore dollars, and the other for foreign currencies. This would effectively remove a key distinction between domestic and international banking operations.

Tharman Shanmugaratnam, De…

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