Media Releases
Published Date: 16 September 2008

Comments by MAS Spokesperson on Lehman Brothers

Comments by MAS Spokesperson on Lehman Brothers:

"To ensure that Lehman Brothers Pte Ltd and Lehman Brothers Singapore Pte Ltd continue to meet their financial requirements, MAS has issued a direction to the Lehman entities in Singapore to seek MAS' approval before paying out any of their own funds to third parties.

SGX has also announced that it has suspended Lehman Brothers Pte Ltd from taking on new securities and derivatives positions with effect from today and is facilitating the orderly transfer of customers' derivatives positions to other brokers. SGX confirms that, at present, Lehman Brothers Pte Ltd is meeting its financial obligations to  SGX's securities and derivatives clearing houses.

MAS and SGX will continue to monitor the situation closely."