Singapore legislation
Clause 37
of Banking Bill
Clause 37
Regulation of interest rates of banks
(1)
The Commissioner, with the approval of the Minister, may from time to time determine and announce the rates of interest payable to or by banks, the rates of discount chargeable by banks, or the rates of commission and other charges payable to banks.
(2)
The provisions of subsection (1) of this section shall not apply to transactions between banks in Singapore.