Singapore
Central banks prepare for the rise of AI
AI will not replace accountability in monetary policy decision-making, MAS chief says
MAS partners with Mastercard to tackle cyber risks
Singaporean central bank and payments firm will share information and conduct joint training
MAS launches AML data-sharing platform
Banks can share data on suspicious activities by customers, Singapore’s central bank says
Philippine central bank launches sustainable finance taxonomy
BSP is Asia’s latest monetary authority to set out framework to help tackle climate crisis
India and Nepal to set up cross-border payments link
Project adds to growing list of similar bilateral initiatives in Asia
MAS seeks to simplify data collection rules for insurance sales
Proposal aims to allow customers in Singapore to buy simple policies more easily
Singapore keeps monetary policy unchanged
Central bank expects core inflation to fall gradually amid lower import and domestic costs
Singapore moves to expand MAS’s supervisory powers
Central bank would oversee currently unregulated activities and have greater investigative remit
MAS fines Credit Suisse S$3.9 million over misconduct
Relationship managers made false statements to clients over bond trades, says regulator
People: October to December 2023
A round-up of central bankers in the news and on the move during the past three months
MAS suspends some remittance channels to China
Singapore’s central bank acts after Chinese authorities freeze around $10 million worth of remittances
MAS bolsters efforts on transition finance
Central bank issues new taxonomy and will work on phasing out coal
Singapore, Malaysia and Indonesia launch cross-border payment links
Indonesia and Singapore say they intend to set up local currency settlement framework in 2024
MAS to test “live” wholesale CBDC next year
Central bank chief Ravi Menon backs CBDCs, stablecoins and tokenised bank liabilities as digital money
Indonesia and Singapore renew bilateral liquidity lines
MAS and Bank Indonesia also renew bilateral repo agreement
MAS imposes further penalties on Singapore’s biggest lender
Central bank penalises DBS after country’s largest bank experienced repeated service outages
Data sharing as a policy intervention
Increasing access to data represents another policy lever regulators can pull to achieve their objectives, writes David Bholat
MAS tests upgraded unified QR code system
New code could allow merchants to accept different QR payment methods more easily
MAS defends AML supervision in wake of billion-dollar scandal
Credit Suisse, Citi, DBS and Deutsche Bank among firms implicated
People: Former MAS managing director Hu dies
New chair for Kenya central bank’s board; new member of BoE court; and more