MAS proposes raising insurance coverage on bank deposits to $75,000 from $50,000

SINGAPORE – The Monetary Authority of Singapore (MAS) asked on Friday (Aug 4) for public feedback on proposals to enhance the deposit insurance scheme. The insurance coverage plan now safeguards deposits of approximately $50,000 in banks and financing firms. Singapore dollar-denominated deposits, such as those kept in a cost savings, fixed deposit or bank account,……