MAS Intraday Liquidity Facility

Description

The MAS Intraday Liquidity Facility allows eligible counterparties to obtain Singapore dollars ("SGD") on an intraday and collateralised basis, to cater to situations where there are unusually large payments or large receipts within the same day. It facilitates the settlement of payments and helps to prevent system gridlocks owing to timing mismatch.

Eligible Counterparties

Participants in MAS’ real time gross settlement system ("MEPS+") that have entered into a PSA-ISMA Global Master Repurchase Agreement with MAS.

Transaction Type

Repurchase transaction.

Tenor

Intraday.

Rate

Prevailing market rate, which is currently at 0%

Where the rate is otherwise determined by MAS, such rate will be broadcast in MEPS+ or on the MAS website.

Eligible Collateral

SGS and MAS Bills available in the SGS-Trade Account.

Initial Haircuts

Time to maturity

Haircut (%)

0-5 years

2

>5-10 years

3

>10 years

5

 

Operating Window

9.00 am to 5.00 pm.

Usage of the facility has been automated within MEPS+ and may be triggered by eligible counterparties with sufficient eligible collateral.

Liquidity reversal will take place automatically at 5.30 pm.

Settlement

Immediate.

Contact Information

Official dealing line: +65 6229 9150

Email: sgddiv@mas.gov.sg

Complete Terms and Conditions

Terms and Conditions of MAS ILF wef 20 Aug 2012

Last Modified on 26/11/2016