ANCHOR OF ECONOMIC

AND FINANCIAL STABILITY

MANAGEMENT OF LIQUIDITY
ENHANCING MAS RENMINBI FACILITY

In March 2013, MAS renewed and enhanced the bilateral currency swap arrangement with the People’s Bank of China. Under this arrangement, up to RMB 300 billion is available to eligible financial institutions in Singapore for trade and market stability purposes. In July 2013, MAS enhanced the MAS Renminbi (RMB) Facility to provide RMB liquidity in tenors of one week and one month for market stability purposes, in addition to the existing 3-month tenor for trade and direct investment into China. The pool of eligible collateral was also expanded from SGD cash to include Singapore Government Securities (SGS) and MAS Bills.