MAS extends $80b swap agreement with US Fed

Its USD Facility will also be extended to end-September 2021.

The Monetary Authority of Singapore (MAS) has extended its $80b (US$60b) swap arrangement with the US Federal Reserve through 30 September 2021, a statement read.

The MAS USD Facility will also be extended to 30 September 2021.

Since launching in March, the facility has provided about $30.5b (US$23b) to banks, for use in Singapore and the region. The extension of the MAS USD Facility will continue to promote stability in USD funding conditions and anchor market confidence, the regulator said.

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