MAS to consider covered bond repo eligibility

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By Bill Thornhill
14 Mar 2019

The Monetary Authority of Singapore (MAS) is considering making covered bonds eligible for repo, but Singapore dollar issuance would probably be needed, delegates at the Euromoney/ECBC Asian Covered Bond Forum heard this week. Domestic currency issuance would improve the resilience of Singapore’s banking system and potentially encourage other banks to set up programmes.

In a keynote address delivered at the conference on Tuesday, Alan Yeo, executive director of financial markets in the development department at the MAS, outlined the case for covered bonds and raised the possibility of repo eligibility.

He said that the covered bond market had provided global banks ...

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