MAS to expand deposit insurance to non-banks

8 September 2010 | 1 minute read

The Monetary Authority of Singapore has issued feedback on a public consultation on the state’s deposit insurance scheme. The authority has announced plans to impose the revised deposit insurance scheme in early 2011, given positive feedback for the scheme. Under the new scheme, insurance coverage for each depositor will increase from S$20,000 (US$14,889) to S$50,000. The regulator said 91% of…

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