The Monetary Authority of Singapore (MAS) will be extending the US$60 billion ($79.81 billion) swap arrangement with the US Federal Reserve to Sept 30, 2021.

The MAS USD Facility will also be extended to the same date, offering up to US$60 billion of funding to banks, to facilitate USD lending to businesses in Singapore and the region.

The Federal Reserve counts 14 central banks among its network of USD swap facilities, including the MAS.

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