The banking system of Singapore Saint-Petersburg 2010 Author: Chernova Anna 1st year student of the Master programme International Banking Institute

2 The banking system of Singapore  advanced banking system local and foreign banks and financial institutions  113 commercial banks operate currently 28 banks with a full range of banking services 37 wholesale banks 48 offshore banks  52 financial institutions that operate as trade banks  3 financial companies

3  a full range of central banking functions are carried out by Monetary Authority of Singapore(MAS) since 1971: implementation of exchange rate policy conduct of money market operations for banking system liquidity management provision of banking and financial services issuance of currency - singapore dollar  activities of commercial banks in Singapore are licensed and regulated by the Banking Act  foreign exchange controls were eliminated free movement of capital is ensuant Monetary Authority of Singapore (MAS)

4 Leading banks in Singapore  DBS (Development Bank of Singapore)  OCBC (Oversea-Chinese Banking Corporation)  UOB (United Overseas Bank)  ABN AMRO BANK NV  Citibank NA  HSBC (HongKong and Shanghai Banking Corporation )  Standard Chartered Bank & etc.  Singapore's leading banks DBS, OCBC and UOB are on 23rd, 31st and 32nd places according to the rating “Global Finance” comparison was performed among the 500 largest banks in the world main selection criteria - increasing the bank's capital and the reduction of outstanding debts

5 3 leading banks in Singapore  Development Bank of Singapore - DBS  Oversea-Chinese Banking Corporation – OCBC  United Overseas Bank - UOB StateBankAssets S $ bil 12 Mths 2008Assets S $ bil 9 Mths DBS OCBC UOB

6  create regulatory system and financial sector development  create an effective system of banking and financial supervision  attract foreign banks and financial institutions with good reputation for financial activities at the regional and international levels  adoption of a liberal immigration policy for skilled foreign professionals  create infrastructure, including efficient telecommunications, transport network linking the region with Europe and the U.S.A. Measures for the development of the national banking system

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