Notes_on_Sing._financial_institutions

Notes_on_Sing._financial_institutions - equal to S$500...

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NOTES ON SINGAPORE WHOLESALE BANKS, OFFSHORE BANKS, MERCHANT BANKS AND FINANCE COMPANIES
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WHOLESALE BANKS (1) No savings accounts in S$ or other currencies. (2) No S$ fixed deposits under S$250,000. (3) No S$ interest-bearing current accounts for Singapore residents. (4) S$ bonds or NCDs must have maturities that are greater than or equal to 12M, and denominations that are greater than or equal to S$200,000. (5) One location.
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OFFSHORE BANKS (1) All the restrictions on Wholesale Banks applied to Offshore Banks also. (2) No fixed deposits in S$ for Singapore residents. (3) S$ current accounts for Singapore residents shall only be offered to customers who have other business dealings with the bank. (4) Aggregate amount of S$ credit facilities to Singapore residents must be less than or
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Unformatted text preview: equal to S$500 million. MERCHANT BANKS (1) Primarily involved in fee-based activities:- corporate finance- underwriting- mergers and acquisitions- portfolio management and investments- management consultancy (2) Merchant Bank DBUs cannot accept deposits or borrow from the public. (3) Merchant Banks may borrow from other banks, finance companies, and their own shareholders. FINANCE COMPANIES (1) Involved in small-scale financing – car loans, consumer durable loans, mortgages, etc. (2) Cannot offer checking account services. (3) Unsecured credit facilities to any person must be below S$5000. (4) No transactions in gold, other precious metals and foreign currencies. (5) Cannot acquire foreign currency denominated stocks or debt securities....
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Notes_on_Sing._financial_institutions - equal to S$500...

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