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Singapore: Report on the Observance of Standards and Codes

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  • International Monetary Fund

Abstract

This paper discusses findings of the Report on Observance of Standards and Codes on Singapore. The Monetary Authority of Singapore (MAS) shows a very high level of compliance with the Basel Core Principles and demonstrates a strong commitment by MAS to their implementation. As a large financial center, MAS is well aware of the risks posed by a financial system that is significantly larger than the economy of Singapore, and comprised primarily of branches of foreign institutions operating in non-Singapore dollars. MAS has also set a high standard for approving foreign entrants, applying the same prudential framework to foreign branches as to its own locally incorporated banks.

Suggested Citation

  • International Monetary Fund, 2013. "Singapore: Report on the Observance of Standards and Codes," IMF Staff Country Reports 2013/326, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2013/326
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