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Banking (Amendment) Bill Introduces New Safeguards For Depositors 
Posted on Wednesday, November 08, 2006 - 08:00 PM

The Banking (Amendment) Bill, introduced in Parliament, is intended to strengthen prudential safeguards to protect depositors and give the Monetary Authority of Singapore (MAS) more power to deal with a distressed or insolvent bank. It also provides banks with greater operational flexibility as they will no longer be required to maintain a statutory reserve fund.


 


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