In forceAmended2020 Revised Edition

Contents

Monetary Authority of Singapore Act 1970 · 2020 Revised Edition · Part 2 · Establishment, Capital Andadministration of Authority

4. Principal objects and functions of Authority

Feedback & support

Amended

Last amended by an amending law of 2017. 3 amendments in all.

(1)

The principal objects of the Authority are —

(a)

to maintain price stability conducive to sustainable growth of the economy;

(b)

to foster a sound and reputable financial centre and to promote financial stability;

(c)

to ensure prudent and effective management of the official foreign reserves of Singapore; and

(d)

to grow Singapore as an internationally competitive financial centre.

(1A)

The Authority, when giving effect to its objects under subsection (1), is to act on the basis that the object in paragraph (b) prevails over the object in paragraph (d) of that subsection.

(2)

The functions of the Authority are —

(a)

to act as the central bank of Singapore, conduct monetary policy, issue currency, oversee payment systems and serve as banker to and financial agent of the Government;

(b)

to conduct integrated supervision of the financial services sector and financial stability surveillance;

(c)

to manage the official foreign reserves of Singapore; and

(d)

to develop Singapore as an international financial centre.