MAS awards SRFB privileges to StanChart, will revamp SRFB framework

Uploaded By:  Frances Gagua Submitted By:  Staff Reporter Case Study:  No Lenders who substantially exceed the SRFB criteria may be allowed to open subsidiaries. The Monetary Authority of Singapore (MAS) has awarded Significantly Rooted Foreign Bank (SRFB) privileges to Standard Chartered Bank (Singapore), which allows the lender to operate additional places of business (POBs), the regulator announced in a press release. Standard Chartered was the first bank to qualify for an SRFB. The lender will be allowed to establish up to 50 POBs, of which 35 may be branches. read more