MAS FY2015/2016


The Authority's total assets, including the Currency Fund's assets, decreased by 0.6% over the financial year ended March 2016, to $385.1 billion, as foreign financial assets translated to stronger Singapore dollar terms, contracted. Total liabilities also declined, by 0.7% to $344.3 billion, mainly due to the $19.3 billion reduction in outstanding MAS bills issued, offset partially by the $9.2 billion increase in the Singapore Government's balances with the Authority and other smaller increases in liabilities. The currency-in-circulation grew by 6.4%.

The Currency Fund's net external assets grew by 5.6% to $48.8 billion, backing the higher currencyin-circulation by 124%, compared to 125% a year ago.

The Authority recorded a net profit of $0.2 billion in the financial year ended March 2016 (FY15), as total income increased by 27.6% to $1.9 billion whilst total expenditure rose by 44.4% to $1.7 billion. The SGD translation effect was negative due mainly to the strengthening of the SGD against the USD and GBP by 1.9% and 5.2% respectively which was offset partly by the weakening of the SGD against the Euro and Yen by 4.0% and 4.5% respectively

The Authority's total expenditure increase was attributable to higher investment and interest expenditure. Whilst the Authority's borrowings were reduced significantly during the year, Singapore dollar interest rates averaged higher, compared to the previous year. General and administrative expenditure was higher, arising mainly from costs related to the SG50 commemorative note issuance.

Based on the framework for Contributions to Consolidated Fund, no contribution to the Consolidated Fund is required for this financial year as the net profit for the year was offset by carried forward losses from previous financial years. The net profit for the year will be added to the Authority's reserves, in accordance with the Monetary Authority of Singapore Act.