MAS announced changes to its senior management team.
Oral Reply to Parliamentary Question on wholesale insurance for banks and credit card issuers to permit easier write-offs for smaller transaction amounts
Mr Edward S Robinson, Deputy Managing Director (Economic Policy) & Chief Economist, MAS, spoke on the economic impact of COVID-19 and policy responses, the economic prospects and key aspects of the ongoing policy agenda.
Read MAS' announcement on the February 2020 FATF Statement highlighting jurisdictions with strategic deficiencies in AML/CFT.
MAS and The Association of Banks in Singapore jointly issued a paper on managing new risks that could emerge from extensive remote working arrangements adopted by financial institutions (FIs) amid the COVID-19 pandemic. The paper, “Risk Management and Operational Resilience in a Remote Working Environment” highlights possible risks to FIs in the areas of operations, technology and information security, fraud and staff misconduct, and legal and regulatory risks. It also examines the impact on people and culture that may be brought about by remote working. The paper suggests key risk management actions and examples of mitigating controls that FIs should benchmark themselves against.
This consultation paper sets out MAS' proposals to enhance the current requirements relating to enterprise risk management, investment risk management and public disclosure practices for insurers.
- Consultation number:
- Start date:
- 19 February 2021
- Closing date:
- 19 March 2021
Promoting Economic Growth & Financial Stability
Maintaining a Robust, Resilient & Trusted Financial Centre
Developing an Innovative & Inclusive Financial Centre