Monetary Authority of Singapore

ESG Data

MAS Proposes Industry Code for ESG Data Providers

By Editors | 28/06/2023

The code establishes industry standards of transparency in methodologies and data sources, governance, and conflicts of interest management.

Emerging Prudential Risks

Korea Considers Increasing Deposit Insurance Limit

By Editors | 28/06/2023

FIs are opposed to the move as it would raise the premium rates they pay for deposit insurance. Regulators say the impact should be “carefully examined”.

Reporting & Disclosures

MAS-SGX-CDSC Partnership to Expand Access to Climate Transition Data

By Ranamita Chakraborty | 28/06/2023

Work is scheduled to start in Q1 2024, with the goal of integrating MAS’ Project Greenprint’s ESGenome disclosure portal and CDSC’s Net-Zero Data Public Utility global repository of climate transition-related data.

Resolution & Recovery

MAS Proposes Increasing Deposit Insurance Coverage

By Karen Ng | 28/06/2023

MAS says the proposed increase in deposit insurance coverage will allow the proportion of insured depositors to keep up with deposit growth.

Tokenisation

MAS Sets Out Framework for Digital Asset Networks

By Karen Ng | 27/06/2023

MAS will also expand Project Guardian to test the potential of asset tokenisation across more financial asset classes.

AI Risk & Governance

MAS Releases Guidelines for Responsible AI-use in FIs

By Karen Ng | 27/06/2023

Singapore’s financial regulator also released an open-source toolkit for FIs to carry out assessment methodologies for FEAT (fairness, ethics, accountability and transparency) principles.

Sustainable Finance

ICMA Issues Updates to Guidelines and Principles

By Ranamita Chakraborty | 26/06/2023

The ICMA’s climate transition finance handbook and sustainability-linked bond principles were updated, along with the release of additional guidance.

Trade Based Money Laundering

ABS Launches New Registry to Counter Trade Finance Fraud

By Manesh Samtani | 25/06/2023

Participating banks can register new trade financing transactions and receive real-time notifications if instances of duplication are detected.

Reporting & Disclosures

MAS Partners UNDP, GLEIF to Digitise ESG Credentials for MSMEs

By Ranamita Chakraborty | 23/06/2023

Project Savannah will establish a common framework of ESG metrics for MSMEs, enabling them to meet the UN SDGs and facilitate their access to cross-border opportunities.