Types of Deposit-Taking Institutions
Find out about the different types of deposit-taking institutions and their permitted activities.
Deposit-taking institutions in Singapore operate as full banks, wholesale banks, merchant banks or finance companies. Find out about the regulations, updates and licensing for such institutions.
MAS regulates and supervises over 150 deposit-taking institutions in Singapore, including full banks, wholesale banks, merchant banks and finance companies. Credit card and charge card issuers in Singapore are governed by the Banking Act . With a total asset size of almost US$2 trillion, the Singapore banking sector is critical to Singapore’s role in financing local and regional growth in trade and infrastructure, and an established global private banking centre.
MAS is governed by the MAS Act, which confers on it powers to issue legal instruments for regulation and supervision of financial institutions.
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This Compliance Toolkit aims to guide and facilitate wholesale banks’ and full banks’ understanding and compliance with the various MAS approval, notification, and reporting requirements and timelines.
This circular informs locally-incorporated banks of the reporting schedules to be submitted via MAS' Data Collection Gateway under the implementation of the final Basel III reforms in Singapore, and the implementation timeline of the final Basel III reforms in Singapore.
Information merchant banks must include in the required fact sheet to borrowers before granting a residential property loan.
Information banks must include in the required fact sheet to borrowers before granting a residential property loan.
Information finance companies must include in the required fact sheet to borrowers before granting a residential property loan.