MAS Opens Singapore Dollar Swap Market To Offshore Banks


SINGAPORE--New measures announced by the Monetary Authority of Singapore (MAS) last week will permit qualifying offshore banks to engage in Singapore dollar swaps for the first time.

The move is part of a five-year banking plan, which aims to liberalize foreign participation in the city state's previously protected domestic market.

However, the MAS has not indicated when the new measures will come into effect.

Offshore banks wishing to engage in Singapore dollar swaps will first have to

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