Aggregated News From Investment Management Regulators

MAS enhances RMB liquidity through a new RMB 25 billion initiative for banks


Please complete the required fields.

The Monetary Authority of Singapore (MAS) today announced the launch of a new initiative to provide up to RMB 25 billion of funding to banks in Singapore. The initiative will deepen RMB liquidity and further strengthen banks’ ability to meet the growing RMB business needs of their customers in Singapore and the region.

2   Under this new initiative, RMB funding of up to 3 months will be channelled to the Primary Dealers (PDs) through MAS’ money market operations. The RMB funds provided to the PDs will enhance their credit intermediation capabilities and the overall RMB market liquidity in Singapore.

3   To support the development of the offshore RMB market in Singapore, MAS previously established the MAS Overnight RMB Liquidity Facility, and the MAS RMB Facility. Banks could access these backstop facilities, to obtain overnight and term RMB liquidity respectively, as needed to facilitate settlement needs and financing of cross-border trade and investment.

4   With the introduction of the new RMB 25 billion initiative, MAS will discontinue the current RMB 5 billion MAS Overnight RMB Liquidity Facility from 23 November 2020. Market participants have indicated that the placement of longer tenors and larger amount of RMB funding by the initiative represent significant enhancements over the MAS Overnight RMB Liquidity Facility. The MAS RMB Facility remains in operation and will continue to provide additional term funding as needed.


Source Link

Regulator Information

Abbreviation: MAS
Jurisdiction: Singapore

Recent Articles

“We’ve Seen This Story Before” Remarks before the Piper Sandler Global Exchange & Fintech Conference

Washington D.C. Thank you, Rich, for that kind introduction.

OCC Hosts Risk Governance and Capital Markets Workshops in Denver

  • +1Bank Management, Banker Education, Board of Directors & Management, Community Banks, Operational Risk Management
WASHINGTON—The Office of the Comptroller of the Curren

SEC, NASAA, FINRA to Co-Host Webinar on Identifying and Reporting Suspected Senior Financial Exploitation

Regulators to Discuss Protecting Seniors During World Elder Abuse Awareness Day WASHINGTON—The Securities and Exchange Commission (SEC), the North American Securities Administrators Association (NASA

Financial sector’s capital position as at 31 March 2023: The Finnish financial sector’s capital position has remained good – risks in the operating environment...

The state of the Finnish financial sector has remained good in the early months of the year, despite the continued high level of risks...

Notification For The 2023 Capital Market Committee 2nd Webinar Meeting

The Director General has approved the 2023 Capital Market Committee (CMC) 2nd Webinar Meeting to hold on Wednesday, 23rd, August 2023. The usual interface with...

Get the latest from Regulatory.News in your inbox!