Singapore Central Bank to Provide $60 Billion to Country’s Lenders

Caixin Global | Mar 26, 2020 at 8:53 PM
  • The Monetary Authority of Singapore (MAS) said on March 26 it will draw on its new currency swap line with the U.S. Federal Reserve to provide up to $60 billion of U.S. dollar funding to banks in Singapore.
  • MAS will lend the dollars obtained from the U.S. central bank to banks in Singapore through its new MAS USD Facility, via auctions.
  • MAS will conduct another two auctions on Monday, March 30, where $12 billion in seven-day funds and $8 billion in 84-day funds will be offered.