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BRIEF-Singapore's MAS Responds To Media Queries On DBS Bank And Citibank's Banking Services Disruptions

Reuters SG
·1-min read

Oct 19 (Reuters) - SINGAPORE'S MAS:

* MAS' RESPONSE TO MEDIA QUERIES ON DBS BANK AND CITIBANK'S RECENT BANKING SERVICES DISRUPTIONS

* REQUIRES ALL BANKS TO ENSURE THAT THEIR CRITICAL SYSTEMS AND SERVICES TO CUSTOMERS ARE RESILIENT TO DISRUPTION

* UNSCHEDULED DOWNTIME FOR CRITICAL SYSTEM AFFECTING BANK’S OPERATIONS OR SERVICE TO CUSTOMERS MUST NOT EXCEED 4 HOURS WITHIN ANY 12-MONTH PERIOD

* EXPECTS BANKS TO ESTABLISH CONTRACTUAL AGREEMENTS WITH DATA CENTRE PROVIDERS THAT INCORPORATE REQUIREMENTS ON SYSTEM AVAILABILITY

* HAS INSTRUCTED DBS BANK AS WELL AS CITIBANK N.A., SINGAPORE BRANCH AND CITIBANK SINGAPORE TO CONDUCT THOROUGH INVESTIGATION Further company coverage: