The Monetary Authority of Singapore (MAS) rolls out measures in support of financial institutions
Globally, financial services regulators and/or central banks are making adjustments to their regulatory policies and rolling out stimulus packages aimed at supporting financial institutions (FIs) as they cope with the effects of COVID-19 on their businesses. In Singapore, the MAS announced on 7 April that it will adjust selected regulatory requirements and supervisory programs to enable FIs to focus on dealing with issues arising as a result of COVID-19.
Broadly speaking, the measures introduced have two key aims:
- Ensuring banks’ continued liquidity and lending capacity; and
- Reducing the strain on FIs’ resources.
We have outlined in this alert the measures introduced by the MAS. Please feel free to reach out to any of your Linklaters contacts for further information.