S'pore's financial sector to be assessed by IMF
By Brandon Tanoto | Posted: 08 January 2013 1445 hrs
SINGAPORE: Singapore's financial sector is set to undergo a financial stability assessment.
The Monetary Authority of Singapore (MAS) announced on Tuesday that Singapore will participate in the International Monetary Fund's Financial Sector Assessment Programme (FSAP) in 2013.
Singapore last participated in the programme in 2004.
As an international financial centre, MAS said Singapore is committed to undergoing periodic financial stability assessments.
Under the programme, Singapore will be assessed against international standards for the banking, insurance and securities sector to benchmark itself to the prescribed standards.
Meanwhile, the assessment will also contribute to a deeper understanding of the stability and resilience of the financial sector.
MAS is currently working closely with the financial sector in preparation for the assessment.
The FSAP mission will visit Singapore in April and May for the standards and financial stability assessments.
-CNA/ac
- wong chee tat :)
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