THE FINANCIAL SECTOR:
KEY SUPERVISORY AND REGULATORY INITIATIVES
     
Content Page
Supervision
Regulation
Risk-based Regulatory Regime
Fine-Tuning Regulatory framework
Ensuring Sound Market Conduct
Innovative Systems for Efficient Payment
and Settlement
 
 
SUPERVISION
 
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Box 1 – Fostering a Sound and Progressive Financial Services Sector . Enhancing MAS’ Supervisory Capabilities
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Box 3 – Streamlining Inspection Function . Thematic Inspections to Improve Surveillance
 
Box 2
STRESS TESTING OF LIFE INSURERS
 
MAS carried out active stress testing of life insurers in 2003. It was part of our normal surveillance activities to assess the industry’s and companies’ capacity to cope with further declines in equity and fixed income values. The exercise revealed that most companies were well-prepared to deal with equity declines, having put in place adequate contingency plans. With good planning and the pick-up in equity markets, life insurance companies in Singapore are wellcapitalised and generally in good financial health.