Promoting Consolidated Supervision and Cooperation with Foreign Regulators
MAS continues to participate in supervisory college meetings of international and regional banks as host supervisor. This allows MAS to cooperate more closely with the home supervisors of foreign banks and strengthen our understanding of developments in other parts of the group that may have an impact on the Singapore operations. MAS also hosted supervisory college meetings for the three Singapore banking groups, involving supervisors in the region where the banks have sizeable operations. These meetings provided a forum for MAS and host supervisors of these institutions to exchange views and assessments of the institutions' cross-border activities.

Crisis Management Group Meetings
MAS is a member of the Crisis Management Group (CMG) of six of the G-SIBs that have significant operations in Singapore and participates in their CMG meetings. The meetings facilitate information exchanges between home and host supervisors and the establishment of institution-specific cross-border cooperation agreements to support recovery and resolution planning. This enhances preparedness and cross-border coordination for crisis management, including recovery and resolution planning, for these institutions.

Alternative Investment Fund Managers Directive
MAS entered into an MOU with the authorities of 27 European Union or European Economic Area countries on 22 July 2013. This provides a formal basis for supervisory cooperation between MAS and the European authorities for the regulation and supervision of alternative investment funds (AIFs), managers of AIFs and depositaries of AIFs. The MOU paves the way for enhanced sharing of information and mutual assistance between MAS and the European authorities for more effective supervision of AIFs' managers that operate on a cross-border basis.