|The TiF session is an MAS initiative to establish a regular forum for MAS, financial institutions, consultants and IT solution providers to exchange views on new technology developments to promote growth and greater efficiency in the financial industry.
(a) Continuing with the success of the previous sessions, MAS organised the fourth TiF session on The New Liquidity Supervision Framework Workshop on 20 September 2001 to explain the new framework for banks which was announced in July 2001. The session provided an invaluable opportunity for participating banks to clarify the operation of the new framework and was very well received by the participants.
(b) The fifth TiF session on Internet and Mobile Security was held on 12 October 2001 to facilitate an exchange of views and formulate fresh perspectives on the adoption of new security technologies for the financial industry.
The high level of participation, with over 225 business heads and security professionals from banks, law firms, insurance companies, technology vendors and government agencies, underscored the importance of constantly reviewing technology risk and security issues.
(c) To further enhance MAS objective in promoting world-class standards in technology risk management and security practices, two dialogue sessions were held with major banks in Singapore on 19 October 2001 and 8 February 2002 respectively. Issues discussed were regulatory guidance relating to MAS directives and advisories on security requirements, as well as emerging security issues affecting the industry.