MAS Intra-day Liquidity Facility     

MAS operates an intra-day liquidity facility for RTGS participants that may need to make unusually large payments and expect large receipts within the same day.  This is to facilitate settlement of payments amongst banks and banks’ repayments to MAS under MEPS+ without needing to provide excess liquidity.  Intra-day liquidity to banks is extended via intra-day loans or SGS repos.  The window for the facility is between 9am and 5pm, with the default automated reversal time at 5.30pm. The amount available for loan depends on the amount in the participants’ SGS Free Account, with a 2% haircut applied. The intra-day lending and repo rates are based on prevailing market rates unless otherwise determined by MAS and will be broadcast in MEPS+ or on the MAS website.

Requests for intra-day liquidity would be reviewed on a case-by-case basis, pursuant to the Terms and Conditions governing use of the facility.

Terms and Conditions with effect from 13 April 2011 (PDF, 59KB)