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Article: Singapore, Netherlands central banks ink MoU
- Article from:
- Xinhua News Agency
- Article date:
- June 29, 2009
CopyrightCopyright 2009 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
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Singapore, Netherlands central banks ink MoU
SINGAPORE, June 29 (Xinhua) -- Singapore and the Netherlands
signed on Monday a Memorandum of Understanding (MoU) between central
banks for an arrangement to enhance liquidity provision to banks in
non-routine situations.
The MoU was signed by the Monetary Authority of Singapore (MAS)
and De Nederlandsche Bank N.V. (DNB), and will be effective
immediately, according to a statement released by the MAS.
Under the arrangement, Dutch banks operating in Singapore or
Singapore banks operating in the Netherlands can approach the MAS or
DNB to ask for liquidity assistance if needs arise.
This arrangement will enhance the banks' confidence in carrying ...