MAS prepared to tackle Brexit shock

SINGAPORE (June 24): Singapore’s central bank is ready to curb excessive volatility in the Singapore dollar market and provide additional liquidity to the banking system if needed, it says on Friday after the Brexit vote.

The Monetary Authority of Singapore (MAS) said that it “will continue to be vigilant and stay in close contact with fellow central banks and regulators, as uncertainty is likely to persist following the referendum outcome.”

MAS says the liquidity positions of the major banks in Singapore are healthy and overall banking-system liquidity remains adequate. The central bank said despite heightened volatility in international foreign-exchange markets, the trade-weighted Singapore dollar remained within its policy band.

---

Related Stories

• Suntec REIT biggest beneficiary from MAS’s ‘looser’ leverage, ICR rules: OCBC
• Banks in Singapore can withstand multiple shocks: MAS
• Changes in ICR, leverage to come into effect immediately, with additional disclosures in March

---