Grace Chong at global law firm Simmons & Simmons JWS analyses the key points of MAS’ proposed Guidelines on Environmental Risk Management, and sets out the key practical steps to be taken.
The guidelines set out MAS’ supervisory expectations for banks, insurers and asset managers in their governance, risk management, and disclosure of environmental risk.
MAS managing director Ravi Menon suggests that China and Singapore work together to create frameworks for green and sustainability-linked loans, customised for Chinese and Singaporean SMEs.
AMTD and Xiaomi Finance will provide S$5mn to support to enable SMU and NUS-ISS to build curriculum and teaching resources for a digital finance leadership programme.
The two are accused of falsifying invoices to conceal from UOB and OCBC the sale of sugar to North Korea entities. One of the individuals is also on the FBI's most-wanted list.
These applicants assessed as eligible will progress to the next stage of assessment, where they will be invited to present their proposals via virtual meetings.
The S$150mn three-year corporate loan from OCBC to CapitaLand is hailed as a milestone in the industry’s transition roadmap towards SORA adoption.
Although access to in-person services will expand, MAS "strongly encourages" FIs and their customers to continue using digital financial services and e-payments as much as possible.
Two former employees of a crude oil products supplier allegedly created fictitious sales contracts and invoices to obtain $340mn in financing from eight banks.
If Covid-19 is not contained, debt will accumulate and credit risks will mount, leading to ratings downgrades which will exacerbate existing stresses and cause asset sell-offs.