Monetary Authority of Singapore Annual Report 2012/2013
  • COMMITTED TOWARDS INTERNATIONAL EFFORTS ON FINANCIAL STABILITY AND FINANCIAL REGULATORY REFORM
Valeud Partners

COMMITTED TOWARDS INTERNATIONAL EFFORTS ON FINANCIAL STABILITY AND FINANCIAL REGULATORY REFORM

Singapore’s Participation in the
International Monetary Fund’s Financial
Sector Assessment Programme

The Financial Sector Assessment Programme (FSAP), which was established in 1999, is a comprehensive and in-depth external assessment of a country’s financial sector. The assessment contributes to a deeper understanding of the stability and resilience of the financial sector. As an international financial centre, Singapore is committed to undergoing periodic financial stability assessments.

In 2013, MAS participated in an FSAP, conducted by the International Monetary Fund (IMF). The FSAP involved two onsite missions to Singapore for the standards and financial stability assessment. During the first mission, the FSAP Assessors met with MAS and other government agencies, as well as financial sector industry players and industry associations, to study Singapore’s observance of newly revised international standards on banking, insurance and securities. The assessment process was rigorous and MAS benefited from the productive discussions with the FSAP Assessors.

The second onsite mission will take place in H2 2013 covering an assessment of financial stability of the system, including stress tests. The mission will also cover Singapore’s observance of the new Principles for Financial Market Infrastructures.