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.