| Description |
1 online resource (71 pages) : charts |
| Series |
IMF country reports ; 13/326 |
|
IMF country report ; no. 13/326.
|
| Contents |
Cover; CONTENTS; GLOSSARY; BASEL CORE PRINCIPLES FOR EFFECTIVE BANKING SUPERVISION; A. Introduction; B. Background Information and Methodology Used; C. Overview of the Institutional Setting and Market Structure; D. Preconditions for Effective Banking Supervision; E. Main Findings; TABLES; 1. Singapore: Summary Assessment of the Basel Core Principles; F. Recommended Actions; 2. Recommended Actions to Improve Compliance with the Basel Core Principles; G. Authorities' Response to the Assessment; CPSS-IOSCO PRINCIPLES FOR FINANCIAL MARKET INFRASTRUCTURES; A. Introduction |
|
B. Information and Methodology Used for AssessmentC. Main Findings; 3. CDP Summary Compliance with the CPSS-IOSCO Principles for FMIs-ROSC; 4. SGX-DC Summary Compliance with the CPSS-IOSCO Principles for FMIs-ROSC; 5. Authorities' Summary Compliance with the CPSS-IOSCO Responsibilities-ROSC; D. Recommended Actions Regarding CDP; E. Recommended Actions Regarding SGX-DC; F. Recommended Actions Regarding MAS; G. Authorities' Response to the Assessment; IAIS INSURANCE CORE PRINCIPLES; A. Background; B. Preconditions for Effective Supervision; C. Main Findings |
|
6. Summary of Compliance with the ICPsD. Authorities' Response to the Assessment; 7. Recommendations to Improve Observance of ICPs; IOSCO OBJECTIVES PRINCIPLES OF SECURITIES REGULATION; A. Executive Summary; B. Introduction; C. Information and Methodology Used for Assessment; D. Regulatory Structure; E. Legal Framework; F. Market Structure; G. Preconditions for Effective Securities Regulation; H. Main Findings; 8. Summary Implementation of the IOSCO Principles-Detailed Assessments; 9. Recommended Action Plan to Improve Implementation of the IOSCO Principles |
| Summary |
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. MAS' current institutional reliability and its commitment to a prudent and sound domestic financial system have contributed to the strong economic development of Singapore and its role as one of the leading financial centers in the world. MAS has built a strong and experienced supervisory staff that has put in place an effective supervisory and regulatory framework that includes active and constructive engagement with the management and boards of financial institutions under MAS supervision. To a large degree, this is a consequence of the strong support of the current Singaporean government for an effective and well-resourced MAS. That said, a high degree of compliance with the core principles is not a guarantee (nor should it be) against the failure of banks. Banking supervision is intended to minimize the likelihood of bank failures, and to deal swiftly and effectively with troubled institutions to minimize the cost of any failures and to preserve financial stability |
| Notes |
Online resource; title from PDF title page (ebrary, viewed January 19, 2014) |
| Subject |
Banks and banking -- Singapore
|
|
Banks and banking
|
|
Economic history
|
| SUBJECT |
Singapore -- Economic conditions
|
| Subject |
Singapore
|
| Form |
Electronic book
|
| Author |
International Monetary Fund.
|
| ISBN |
9781475522600 |
|
1475522606 |
|
