Reserves Management Government Securities

Reserves Management Government Securities (RMGS) is a type of non-marketable security issued by the Government to MAS, to facilitate the transfer of excess Official Foreign Reserves (OFR) to the Government for longer-term management by GIC. Excess OFR arises when MAS accumulates reserves that are above what is required for conducting monetary policy and supporting financial stability. For more details, please refer to the FAQs on RMGS

End of Period Outstanding Holdings of RMGS
March 2022 S$75.0 billion
April 2022 S$88.6 billion