Monetary Authority of Singapore Annual Report 2012/2013
Anchor of Economy

LIQUIDITY MANAGEMENT

Enhancing Our Liquidity Management Framework

In 2012, MAS continued to extend our network of cross-border collateral arrangements (CBCAs) in Asia. The CBCA with the Bank of Thailand (BOT) allows financial institutions in Singapore to pledge Thai Baht (THB) cash and THB-denominated sovereign and central bank securities to obtain Singapore dollar (SGD) liquidity at the MAS Standing Facility, and financial institutions in Thailand to obtain THB liquidity from BOT’s liquidity facility using SGD cash, sovereign bonds and central bank securities. This brings the total number of CBCAs that MAS has to seven.

MAS also continued to expand the MAS Bills programme by issuing 12-week MAS Bills in July 2012 and raising outstanding issuance to S$37.2 billion in Financial Year 2011/12, up from S$18.0 billion in Financial Year 2010/11.