Media Releases
Published Date: 15 September 2008

MAS' Response to Queries on Lehman

MAS' Response to Queries on Lehman:

"MAS is closely monitoring developments in the global financial markets and their impact on financial stability.  Domestic money and foreign exchange markets are continuing to function in an orderly fashion.

Following the announcement by Lehman Brothers Holding Inc ("LBHI") that it has filed for bankruptcy in the US, the banking community has been actively discussing and preparing for the orderly settlement of outstanding positions with LBHI.   The Singapore Foreign Exchange Market Committee has issued a press release earlier today to provide guidance. 

SGX confirmed today that Lehman Brothers Singapore has continued to meet its financial obligations to the SGX's securities and derivatives clearing houses.

MAS remains in close contact with the banks, SGX and relevant financial institutions to monitor developments and to see to the orderly functioning of the markets."