MCB funding period definition
MCB funding period means the period of time designated by MAS before the end of a business day during which a member bank shall have to meet such minimum MCB requirement at the end of a business day as specified in the relevant Notice to Banks;
MCB funding period means the period of time designated by MAS before the end of a business day during which a member bank or finance company shall have to meet such minimum MCB requirement at the end of a business day as specified in the relevant notice in writing issued by MAS under the Banking Act (Cap. 19) or Finance Companies Act (Cap. 108), as the case may be; “member bank” means a bank which is approved by MAS pursuant to section 29A of the Monetary Authority of Singapore Act to participate in MEPS+; “member institution” means an institution which- (a) is not a bank; and (b) is approved by MAS pursuant to section 29A of the Monetary Authority of Singapore Act to participate in MEPS+;
MCB funding period means the period of time designated by MAS before the end of a business day during which a member bank or finance company shall have to meet such minimum MCB requirement at the end of a business day as specified in the relevant notice in writing issued by MAS under the Banking Act (Cap. 19) or Finance Companies Act (Cap. 108), as the case may be; “member bank” means a bank which is approved by MAS pursuant to section 29A of the Monetary Authority of Singapore Act to participate in MEPS+; “member institution” means an institution which- (a) is not a bank; and (b) is approved by MAS pursuant to section 29A of the Monetary Authority of Singapore Act to participate in MEPS+; “MEPS+” means the New MAS Electronic Payment and Book-Entry System, as described in the Payment and Settlement Systems (Finality and Netting) (Designated System) (New MAS Electronic Payment and Book-Entry System) Order 2006; “MEPS+ Operations Manual” means the operations manual provided by the Service Provider to the Participant, as may be revised by the Service Provider from time to time; “MEPS+ Services” means the services in relation to MEPS+ provided by the Service Provider in accordance with the Agreement;
Examples of MCB funding period in a sentence
The extension of the MEPS+ operating hours is provided at the Service Provider’s discretion, and any extension of the MEPS+ operating hours shall not affect the cut-off time for cheque, IBG and FAST clearing and SGSMB transactions, but shall extend the MCB funding period correspondingly; and (e) submit a preliminary letter of explanation to the Service Provider within one business day after the event, and a detailed report within two weeks of the event.
More Definitions of MCB funding period
MCB funding period means the period of time designated by MAS before the end of a business day during which a member bank or finance company shall have to meet such minimum MCB requirement at the end of a business day as specified in the relevant notice in writing issued by MAS under the Banking ▇▇▇ ▇▇▇▇ or Finance Companies ▇▇▇ ▇▇▇▇, as the case may be; “member bank” means a bank which is approved by MAS pursuant to section 29A of the Monetary Authority of Singapore Act 1970 to participate in MEPS+; “member institution” means an institution which- (a) is not a bank; and (b) is approved by MAS pursuant to section 29A of the Monetary Authority of Singapore Act 1970 to participate in MEPS+; “MEPS+” means the New MAS Electronic Payment and Book-Entry System, as described in the Payment and Settlement Systems (Finality and Netting) (Designated System) (New MAS Electronic Payment and Book- Entry System) Order 2006;