Singapore legislation
Regulation 13
Regulation 13
Security
For the purposes of section 22(1) of the Act, the prescribed amount of security that a major payment institution must maintain with the Authority is —
(a)
in the case where the average, over the current calendar year, of the total value of all payment transactions that are accepted, processed or executed by the major payment institution in one month does not exceed $6 million (or its equivalent in a foreign currency) for each payment service the major payment institution provides — $100,000; and
(b)
in any other case — $200,000.