シンガポールの中央銀行機能

概要

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Strictly speaking, Singapore has no central bank. Instead, the "Board of Commissioners of Currency, Singapore" (SCB) and the "Monetary Authority of Singapore" (MAS) fulfill the same functions. That is to say, the SCB issues currency notes and coins, and the MAS acts as banker's bank and the Government bank. Therefore, MAS is often called a "semi" -central bank, which serves all the functions associated with a central bank except for issuing currency. In addition to these central banking functions, however, the MAS also has the expanded responsibility of supervision which includes inspecting and regulating the banking business and other financial operations. If necessary in the public interest, the MAS may issue directions to finacial institutions, and any financial institution that fails or refuses such directions is liable to be fined. Moreover, the Chairman of the Board of the MAS is legally inaugurated as the Minister of Finance. In these points, the MAS is different from central banks in other countries. It should be considered as an administrative institution holding central banking functions rather than as a "semi" -central bank.
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