Assessing the effects of post-crisis regulatory reforms on liquidity in the Singapore government securities and MAS bills market

Author

John M. SEQUEIRA, Singapore Management UniversityFollow

Publication Type

Journal Article

Version

publishedVersion

Publication Date

11-2018

Abstract

The FSB initiated in 2017 an evaluation of the effects of post-crisis regulatory reforms, by developing a framework to assess whether the reforms are achieving their intended outcomes and identify any material unintended consequences. In tandem, MAS established an evaluation framework, which covers four broad impact areas, comprising FIs, financial markets, financial end-users and the broader financial landscape. Internationally, there have been particular concerns over whether post-crisis reforms may have impaired liquidity conditions in specific financial markets. We provide an assessment of the effects of the reforms on liquidity in a key market in Singapore, the SGS and MAS bills market. We hope this box would contribute to the ongoing international assessment in a very challenging area.

Keywords

Monetary policy, financial market, Singapore

Discipline

Asian Studies | Economic Policy | Finance and Financial Management | Portfolio and Security Analysis

Research Areas

Finance

Publication

Financial Stability Review

First Page

38

Last Page

45

ISSN

1793-3463

Publisher

Monetary Authority of Singapore

Citation

SEQUEIRA, John M.. Assessing the effects of post-crisis regulatory reforms on liquidity in the Singapore government securities and MAS bills market. (2018). Financial Stability Review. 38-45.
Available at: https://ink.library.smu.edu.sg/lkcsb_research/6641

Copyright Owner and License

Publisher

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.

Additional URL

https://www.mas.gov.sg/publications/financial-stability-review/2018/financial-stability-review-2018