Monetary Authority of Singapore

Called Project Nexus, the blueprint outlines how countries can integrate their retail payment systems onto a single cross-border network.

Local financial firms are expected to remain resilient even should the economy slip into a recession again.

The sector will continue in a “reform and transform” path, hinging on successful digital banking applicants.

It simulated cross-border transactions involving multiple CBDCs on a common network.

MAS Managing Director Ravi Menon said the government could upgrade its GDP forecast for 2021.

Half of the profit will be added to its reserves, whilst half will go to the government.

And power and gas tariff to increase between July and September.

Finalists will receive mentorship from industry experts, a chance to prototype their solutions, and a cash prize.

The training support will be extended until July 2022.

Loan tenures will be extended between 3-5 years.

The overall business impact would be temporary because no further penalties were handed out.

Core inflation increased 0.8% year-on-year.

Since its launch in March 2020, the MAS USD Facility has provided US$25b to banks.

They failed to properly monitor individuals onboarded as advisors, directors.