ANNUAL REPORT 2002 / 2003


ORGANISATIONAL INITIATIVES

INFORMATION TECHNOLOGY DEPARTMENT

New Era of Easy Access to E-services

Our move towards the disclosure-based regime took a big step forward in July 2002 with the launch of OPERA, the Offers and Prospectuses Electronic Repository and Access system. OPERA gives the public easy access via the internet to prospectuses and offers of investments lodged to MAS as well as a feedback channel.

An online Minimum Liquid Assets (MLA) returns system was set up for banks. Under the risk-based Liquidity Supervision Framework, banks with stronger liquidity risk management have lower MLA requirements. The new system gives banks a convenient and secure channel to submit MLA.

The MAS website was revamped to improve usability and accessibility. Content was reorganised and navigation flow improved. An enhanced integrated search engine gives the public easy access to information on the MAS, OPERA and Singapore Government Securities websites.

A link is being built from the MAS Electronic Payment System (MEPS) to the Continuous Linked Settlement System (CLS) to prepare for the inclusion of the Singapore Dollar as a CLS settlement currency. This link will greatly reduce the settlement risk for foreign exchange transactions involving the Singapore Dollar. Work has also begun on the next generation of the Real-Time Gross Settlement system. Based on SWIFT standards, this system will enable the industry to meet new commercial and regulatory challenges.

With the merger of BCCS with MAS, IT systems and network infrastructures were smoothly integrated. A high-speed link gives staff at Currency House access to all IT facilities at MAS Building. A knowledge management portal is being built to improve operational effectiveness and efficiency, and to create a culture of shared purpose and team collaboration. A group of pilot users are testing the system, which will include a strong search engine that provides the ability to quickly find relevant information and knowledge assets.

 

Strategic Planning Office Currency Department Human Resources Department Corporate Services Department
Finance Department Information Technology Department Internal Audit Department Partnering the International Financial Community

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