We thank Mr Sum Siew Tak for his suggestion to allow joint Central Depository (CDP) account holders to buy Treasury bills (T-bills) as joint beneficiaries (Treasury bills for joint accounts, Jan 19).

2   Under the current process, investors are able to use their individual or joint bank accounts to apply for T-bills, but they are required to have individual CDP accounts for the T-bills to be credited.

3   Individual CDP accounts are needed to verify an investor’s identity before final allotments to individual T-bill applications are determined. This process ensures that each investor is allotted within the allotment limits.

4   Notwithstanding, investors who are keen to transfer allotted T-bills from their individual CDP account to a joint CDP account can do so by submitting a request to the CDP, which CDP will process for a fee.

5   Mr Sum can contact CDP on 6535-7511 or MAS on 6225-5577 if he needs further assistance.

Lu Xinyi
Director (Corporate Communications)
Monetary Authority of Singapore