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.

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