MAS to have more powers to manage distressed financial institutions
[SINGAPORE] The Monetary Authority of Singapore (MAS) will soon be equipped with more powers and tools to resolve the position of distressed financial institutions in an orderly manner.
This will help enhance Singapore's resolution regime and bring it up to date with international developments, given that standards and good practices have evolved, said Mr Ong Ye Kung, Minister for Education (Higher Education and Skills) and Second Minister for Defence,in Parliament on Tuesday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
South Korea readies new system to detect illegal short-selling
US births retreat after pandemic-era growth
Markets are embracing India’s Modi for what he won’t do
Blinken to meet businesses in Shanghai as he kicks off a tough China trip
Indonesia’s central bank surprises with ‘pre-emptive’ rate hike to cushion falling rupiah
South Korea’s economic growth beats forecast as exports rise