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OUR PARTNERS - Building Linkages, Leveraging Partnerships
WORKING WITH CENTRAL BANKS AND FELLOW REGULATORS
WORKING WITH INDUSTRY
 
WORKING WITH CENTRAL BANKS AND FELLOW REGULATORS 42
 
Executives' Meeting of East Asia-Pacific Central Banks (EMEAP) 42
 
Third Asian Forum of Insurance Regulators (AFIR) 42
 
Central Bank Information Technology Exchange (CBITX) 42
 
Exchange of Letters with CRBC Pertaining To QDII Business 42
 
Mutual Recognition of Market Professional Examinations with Thailand 42
 
Memorandums of Understanding (MOU) On Supervisory Cooperation 43
 
Box Story 6 - MAS Lecture by Toshihiko Fukui, Governor, Bank of Japan 43
 
Box Story 7 - Economic Society of Singapore (ESS) Annual Dinner 44
 
Participation in International Forums and Initiatives 44
 
Bank for International Settlements 44
 
Continuous Linked Settlement 45
 
International Organisation of Securities Commissions 45
 
International Association of Insurance Supervisors 45
 
Islamic Financial Services Board 45
 
Information Technology Supervisors Group 46
 
Regional Initiatives 46
 
Capital Market Development and Chiang Mai Initiative 46
 
Anti-Money Laundering/ Counter-Terrorism Financing (AML/CFT) 46
 
MAS Regional Banking Supervisors Training Programme 46
 
Regional Leadership Programme for Securities Regulators 46
 

Bank for International Settlements

MAS is involved in the development of supervisory guidance and standards relating to a range of banking supervisory issues as a member of various working groups under the Basel Committee on Banking Supervision. On capital issues, MAS is a member of the International Liaison Group's Working Group on Capital as well as the Accord Implementation Group's Validation Subgroup. The Subgroup explores issues relating to the validation of banks' systems for internal ratingsbased approaches to credit risk under Basel II. MAS is also a member of the Risk Management and Modelling Group (RMMG) which serves as the Committee's point of contact with the industry on advances in risk measurement and management. Currently, the RMMG is studying various industry practices on economic capital calculations with a view of publishing a guide for both supervisors and banks on evaluating internal capital models used under Pillar 2 of the Basel accord.

MAS is also part of the Working Group on Liquidity. The Working Group has conducted a fundamental review of the Basel Committee's year 2000 publication, "Sound practices for managing liquidity risk in banking organisations" to identify areas that warrant updating and strengthening, and issued the enhanced sound practices for public consultation in June 2008. On accounting issues, MAS is involved in the Accounting Task Force which works to ensure that international accounting and auditing standards and practices promote sound risk management practices at financial institutions, support market discipline through transparency, and reinforce the safety and soundness of the banking system.

As a member of the BIS Committee on Payment and Settlement Systems (CPSS), MAS actively participates in the Subgroup on Foreign Exchange Settlement Risk (FXSR) and the three working groups on Cross-Border Collateral Arrangements, Standards, and System Interdependencies. Within the CPSS FXSR Subgroup, MAS contributed to a report on reducing foreign exchange settlement risks.

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