MAS' Response to COVID-19

Support Measures

Supporting Individuals

MAS has worked with financial institutions and financial industry associations in Singapore to provide support measures that will ease the financial strain on individuals affected by COVID-19.

Read more

Supporting Businesses

MAS has worked with financial institutions and financial industry associations in Singapore to provide support to, and ease cashflow constraints for businesses affected by COVID-19.

Read more

Enabling Financial Institutions to Manage Pandemic Challenges and Build Long-Term Capabilities

MAS has adjusted several regulatory and supervisory programmes to focus the financial sector on COVID-19 priorities, as well as launched a support package to sustain and strengthen long-term capabilities in the financial services and FinTech sectors amid the current economic slump.

Read more

Ensuring Safe Distancing and Operational Resilience of the Financial Sector

MAS has issued guidance and advisories to financial institutions in Singapore on operational, technology and cyber risks so as to safeguard the operational resilience of the financial sector. In line with the elevated safe distancing measures announced by the Ministry of Health (MOH), MAS has also told financial institutions to implement safe distancing measures in all aspects of their business operations, especially customer touch points.

Read more

Ensuring Monetary and Financial Stability

MAS adopted a zero percent per annum rate of appreciation of the policy band, starting at the prevailing level of the S$NEER as at 30 March 2020.

MAS is providing ample Singapore Dollar (SGD) liquidity to the banking system through its daily money market operations (MMO), so that banks can continue to play their role in providing credit to individuals and businesses in Singapore. MAS has also established a new MAS USD facility to provide up to US$60 billion of funding to banks in Singapore to support stable USD liquidity conditions. The USD funds are obtained through a swap facility between MAS and the US Federal Reserve, which will enable Singapore to play its role in supporting US funding markets in the region.

Latest News

Date Title
19 May 20 Safe Re-Opening of More Customer Services in the Financial Sector
13 May 20 New S$6 Million Grant Scheme to Support Singapore FinTech Firms
6 May 20 Electronic Dissemination of Rights Issue and Take-over Documents Allowed Until 30 September 2020
30 Apr 20 MAS and Financial Industry Provide Additional Support for Individuals
20 Apr 20 New Facility at interest rate of 0.1% to help banks and finance companies lower cost of loans to SMEs
17 Apr 20 MAS Urges Customers to Minimise Visits to Premises of Financial Institutions
16 Apr 20 New Measures to Help REITs Navigate Operating Challenges Posed by COVID-19
13 Apr 20
Additional Guidance on the Conduct of General Meetings During Elevated Safe Distancing Period
9 Apr 20
MAS Urges Use of Digital Finance and E-Payments to Support COVID-19 Safe Distancing Measures
9 Apr 20
MAS Extends Digital Bank Assessment Period in view of COVID-19 Pandemic
8 Apr 20
MAS Launches S$125 Million Package for Financial Institutions and FinTech Firms to Strengthen Long-Term Capabilities
7 Apr 20 MAS Takes Regulatory and Supervisory Measures to Help FIs Focus on Supporting Customers
7 Apr 20 MAS Clarifies Loan-to-Value and Total Debt Servicing Ratio Rules for Residential Mortgages and Mortgage Equity Withdrawal Loans
3 Apr 20 Essential Financial Services Remain Available Amidst Tightened Safe Distancing Measures 
1 Apr 20 Comments by MAS on Covid-19 (Temporary Measures) Bill 
31 Mar 20 ACRA-MAS-SGX Update Guidance on General Meetings
31 Mar 20 MAS and Financial Industry to Support Individuals and SMEs Affected by the COVID-19 Pandemic
30 Mar 20 Monetary Policy Statement
25 Mar 20 Guidance on Safe Distancing Measures for Issuers when Conducting Meetings
23 Mar 20 MAS Tells Financial Institutions to Adopt Safe Distancing Measures
23 Mar 20 Date of Release of Monetary Policy Statement
19 Mar 20 MAS Announces US$60 Billion Swap Facility with the US Federal Reserve as part of Coordinated Central Bank Actions
13 Mar 20 Singapore Financial Markets Functioning Well Despite Heightened Volatility
14 Feb 20 MAS Welcomes Measures by Financial Institutions to Support Customers Facing the Impact of COVID-19
9 Feb 20 MAS Advises Financial Institutions to Adopt Recommended Measures for DORSCON Orange
5 Feb 20 Comments by MAS on the Monetary Policy Stance