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OUR WORK
Managing Risks,
Emerging Stronger
TUMULTUOUS
YEAR FOR THE
GLOBAL ECONOMY
MONETARY POLICY
AN UNPRECEDENTED CRISIS
INTEGRATED
APPROACH TO
FOSTER SAFETY AND
SOUNDNESS OF
FINANCIAL
INSTITUTIONS AND
FINANCIAL SYSTEM
BUILDING ON OUR
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PREPARING FOR
THE UPTURN
ENHANCING
OPERATIONAL
CAPABILITIES AND
RESILIENCE
CURRENCY AND
PAYMENT SYSTEM

Cooperative Oversight Arrangement for Continuous Linked Settlement System

The Continuous Linked Settlement (CLS) system provides a mechanism for the safe and efficient settlement of foreign exchange trades involving 17 major currencies, including the Singapore dollar. Given the importance of CLS and to ensure that CLS functions safely and efficiently, the G10 and other central banks have established a cooperative oversight arrangement to jointly oversee the operations of CLS and to provide mutual assistance where necessary and appropriate.