This article LTG
GoldRock to share with you what is the Singapore Financial Administration ~
Singapore Financial Authority (English: Monetary
Authority of Singapore, abbreviated MAS; Malay: Penguasa
Kewangan
Singapura, Singapore Financial Administration is a financial institution that Singapore exercises the function of central banks.The Singapore Financial Authority was established in 1971 and belongs to the Ministry of Finance.
In addition to not issuing currencies, we will fully exercise the authority of general central banks, including guiding the financial industry and supervising banks of banks.
The main responsibility of the Singapore Financial Authority is:
① Formulate and implement financial and monetary policy in accordance with national economic development.
② Accept government deposits, proxy government issuance of national treasury coupons and other government bonds, and managing treasury and national foreign exchange reserves.
③ According to the relevant laws, the establishment and recovery of banks, financial companies and other financial institutions will be approved, and management, supervision, and auditing will be conducted.
④ Management and intervention in the financial market.
⑤ Open accounts for banks and other financial institutions and accept their deposits, and
The "last lender" integrates funds to them.
⑥ According to the "Insurance Law", the business of the insurance company is managed and supervised.
国际 Acting government participation in international financial activities.Singapore's Financial Administration is government banks and bank banks, but not issued by issuing.
With the sustainable development of Singapore, more and more complex banking business and the financial environment needs forced the country to reform its financial functions and enable it to have more financial policies that can have more development momentum and consistency.Therefore, Congress passed the "Singapore Financial Administration Act (MAS Act)" in 1970, and MAS was established on January 1, 1971.The bill has the right to manage all Singapore's financial and banking systems related to fiscal and gold.
MAS has also been paid to formulate laws and regulations on bankers and even government financial departments. It has also been commissioned to improve financial stability; setting credit and exchange policies and promoting economic growth.
However, unlike many other central banks, such as the US federal reserve system or the Bank of England, MAS does not control finance by controlling the flow of the market through the rise and fall of interest rates.On the contrary, it uses a foreign currency exchange mechanism to control the Singapore yuan market.
In April 1977, the government decided to introduce "industrial insurance" management and listed it in the same level of MAS.Its management function is based on the "Industrial Safety Law (1973)" and was transferred to the MAS system in September 1984.MAS is in charge of many rules, including currency, banking system, insurance, security and every financial department.Later, on October 1, 2002, the Monetary Commissioner Committee was merged, and MAS also assumed the power of issuing currency.
