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More powers for MAS to resolve problems at banks in distress

Amendment to the country's resolution laws also aims to avoid contagion or loss of confidence in banking system

Published Tue, Jul 4, 2017 · 09:50 PM
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Singapore

THE Monetary Authority of Singapore (MAS) will hold more powers to resolve problems of distressed financial institutions in an orderly way.

Ong Ye Kung, Minister for Education (Higher Education and Skills) & Second Minister for Defence, presented the second reading of the MAS (Amendment) 2017 Bill in Parliament on Tuesday. The Bill has been passed.

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