Deputy prime minister says no major AML lapses have been found at Singapore banks when asked about ‘Russian Laundromat’ probe.
MAS to impose large exposures limit of 25 percent of tier 1 capital on any counterparty or single counterparty group; will include large exposures to banks.
Banks using internal ratings for credit risk under Basel guidelines will be allowed to have commodities as physical collateral.
Yeo Jiawei, a former BSI wealth manager, gets lifetime ban to add to his convictions for 1MDB related money laundering, cheating and witness tampering.
Mitsubishi UFJ- NTT DATA distributed ledger expected to make cross-border flows more secure through single, unified platform.
Consultation is based on IOSCO principles, FSB recommendations, comes four years after 20 banks disciplined for benchmark manipulation.
Annual report into stability of financial system says domestic and regional lending improving, no signs of credit market overheating.
Exchange consultation proposes move to T+2 settlement, simultaneous securities, money settlement in bid to prevent systemic risk.
Middle Eastern regulator has already approved one Singapore firm to provide credit services; Singapore firm won Fintech challenge.
Singapore has released a second consultation on its proposed payments regulatory framework.
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