New Mechanism by MAS Allows GIC AUM to Grow by S$75 Billion

Posted on 04/07/2022

The Monetary Authority of Singapore (MAS) transferred excess official foreign reserves of S$75 billion (US$ 55.11 billion) to the government through a subscription of reserves management government securities (RMGS). This transfer of assets from MAS to the government does not change Singapore’s total foreign reserves. In February 2022, Parliament amended the MAS Act to allow…

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