ANNUAL REPORT 2002 / 2003


CONTENTS

MISSION AND OBJECTIVES

INTRODUCTION
Members of the Board
Chairman’s Statement
Management Team
Organisational Chart
Departments in MAS

THE FINANCIAL SECTOR: KEY REGULATORY AND SUPERVISORY INITIATIVES
Risk-Based Regulatory Regime
Prudential Policies
Enhancing MAS’ Supervisory Role
Greater Consistency in Standards Across Sectors
Box 1- Singapore Participates in FSAP
Building Strong Pillars for Good Corporate Governance
Additional Requirements
Building Confidence with Sound Market and Business Conduct
Box 2 - Setting a Common Standard
Upholding Professional and Ethical Standards
Box 3 - Faster Ways to Solve Consumer Disputes
Laying A Strong Foundation for Financial Innovation
Box 4 - Catalyst for Change in Investor Education
Managing Technology Risks
Box 5 - Being Ready for All Emergencies
Improved Securities Trading and Clearing Systems
Box 6 - Developing the Securities Market
Safer Settlement System for Foreign Exchange
Box 7 - Consumers' Credit Profile
Payment Systems

THE FINANCIAL SECTOR: PERFORMANCE AND GROWTH
A More Resilient Financial Sector
Structure of the Financial Sector
Financial Market Activity
    Lending in the Domestic Market
    Lending in the Asian Dollar Market contents   
    Syndicated Lending   
Box 8 - Mixed Performance of Asian Dollar Market
    Debt Market
Singapore Government Securities Market
Corporate Debt Market   
    Equities and Futures Market   
    Treasury Market   
    Asset Management   
    Corporate Finance Activity   
    Insurance Activity   
    Financial Stability

ECONOMIC DEVELOPMENTS AND MONETARY POLICY
The Global Economy: Still Waiting for Recovery   
Box 9 - The China Connection
International Financial Markets: Uncertainty Takes its Toll
The Singapore Economy: Roller Coaster Ride
Box 10 - Better Balance for the Economy
Neutral Monetary Policy Stance in 2002
Increasing the Transparency of the Monetary Policy Framework
Box 11 - Greater Transparency in Money Market Operations
In-depth Economic Research and Analysis

MAS IN THE INTERNATIONAL ARENA
Guarding Against Terrorist Financing
Strengthening Global Free Trade
Enhancing Regional Co-operation

ORGANISATIONAL INITIATIVES
Strategic Planning Office   
    A Better Integrated and More Focused Organisation   
Box 12 - The Industry's View of MAS
Currency Department   
    Looking After the Dollars and Cents   
Box 13 - No more New 1-Cent Coins
    Key Currency Statistics
Human Resource Department   
    Building Capacity to Meet Challenges
Box 14 - Open Dialogue
Corporate Services Department
Box 15 -  Creating a More Conducive Working Environment
Finance Department
    Keeping an Eye on Risk
Information Technology Department
    New Era of Easy Access to E-services
Internal Audit Department   
    Maintaining an Effective Control Environment
Box 16 - Audit Committee
Partnering the International Financial Community
    International Advisory Panel
    MAS Lecture

ANNUAL ACCOUNTS (please click here to download PDF file, 52.3KB)
MAS FY2002/2003 Financial Statement Highlights
Report on the Audit of the Accounts
Income and Expenditure Statement
Balance Sheet
Statement of Changes in Equity
Cash Flow Statement
Statement of Backing of Currency in Circulation
Notes to the Accounts

CALENDAR OF MONETARY AND FINANCIAL EVENTS

KEY ECONOMIC AND FINANCIAL STATISTICS  (please click here to download PDF file, 10.7KB)
National Income Aggregates
Labour Force
Saving and Investment
Balance of Payments 
Inflation
Monetary Aggregates
Interest Rates
Exchange Rates
Banking and Finance
Insurance    
CPF  
Domestic Capital Market

STATISTICAL ANNEX  (please click here to download PDF file, 56.8KB)
Monetary Statistics
Financial Structure
Commercial Banks
Finance Companies
Merchant Banks
Insurance Industry
Non-Bank Financial Institutions
Domestic Capital Market
Asian Dollar Market

GLOSSARY

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