RegStream

Media Release NRIC numbers alone cannot be used to effect payment and fund transfers Singapore, 19 December 2024 – The Association of Banks in Singapore (ABS) assures consumer banking customers that NRIC numbers alone cannot be used to effect payment and fund transfers. Banks apply multi factor authentication at login for online financial services and there is an additional layer of control to authorise higher risk activities[1] after login. NRIC numbers serve important functi...

FOR IMMEDIATE RELEASE JOINT MEDIA RELEASE MAS and ABS Announce Launch of Electronic Deferred Payment Solutions in Mid- 2025 and Extension of Deadline for Cessation of Corporate Cheques • New Electronic Deferred Payment (EDP) solutions to be launched in mid-2025 to support transition to e-payments • Deadline to cease processing of corporate cheques extended by one year to end- 2026 • Retail cheques, cashier’s orders and USD cheques continue to be available Singapore, 5 December 202...

Media Release ABS launches anti-scam mascot Canny to continue fight against scams Canny is a visual alert to remind consumers to be on guard against scams Singapore, 6 November 2024 – The Association of Banks in Singapore (ABS) has launched Canny, the anti-scam mascot, to support member banks’ fight against scams. Canny will serve as a common visual cue for the banking industry to prompt families, especially children and youth, to be alert against fraud. Member banks will prog...

Media statement by the Association of Banks in Singapore on Shared Responsibility Framework Singapore, 24 October 2024 - To be attributed to Mrs Ong-Ang Ai Boon, Director, The Association of Banks in Singapore To keep pace with a constantly-evolving scam landscape, key players in the whole ecosystem, which include government agencies and financial institutions, continue to collaborate closely to build a robust system against scams. Over the last two years, the banking indu...

Media Release Singapore’s first best practice paper on enhancing anti-money laundering audit in banks launched by ABS and industry group SINGAPORE, 21 October 2024 – Singapore’s first industry-led best practice paper to enhance Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) audits in banks was launched today by The Association of Banks in Singapore (ABS), in partnership with the Anti-Money Laundering Audit Peer Group (AAPG)1. Developed by the AAP...

JOINT MEDIA RELEASE Business Continuity Exercise to Bolster Singapore Financial Sector’s Operational Resilience Singapore, 15 October 2024…The Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore (ABS) jointly conducted today a business continuity exercise with financial institutions to strengthen the financial sector’s crisis management and operational resilience. 2 Codenamed “Exercise Raffles”, this seventh edition of the exercise inc...

Speech by Luis de Guindos, Vice-President of the ECB, at the 15th edition of Spain Investors DayMadrid, 15 January 2025 It is a pleasure to speak here again this year. [1] In my remarks last year, I expanded on monetary policy in the face of high inflation risks. The outlook was then still being shaped by the easing of pandemic-related supply constraints and by the energy price shock. Inflation had fallen rapidly from its peak in autumn 2022, but we needed to keep monetary policy sufficiently re...

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During its meeting on 15 January 2025, the Federal Council decided to adjust the procedure for setting the upper limits for top executives' salaries at companies affiliated with the Confederation. The setting and monitoring of salary caps at federal companies limited by shares are to become more efficient and modern. The Federal Council instructed the Federal Department of Finance to submit corresponding proposals to it. In addition, it temporarily granted the companies limited reserves for 2026...

The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announced that a tender for 10-year HKD institutional Government Bonds (issue number 10GB3501001) under the Infrastructure Bond Programme was held today (15 January). A total of HK$2. 0 billion 10-year Government Bonds were offered today. A total of HK$7. 250 billion tender applications were received. The bid-to-cover ratio, i. e. the ratio of bonds a...