Eligible Counterparties. 2.1 An eligible counterparty is a Bank that meets the following operational criteria (“Eligible Counterparty”): (a) it has in place SSI(s) relating to USD cash (“USD cash SSI(s)”); and (b) it has entered into a GMRA with the Authority; and (c) if it is a MEPS+ participant – i. it has in place an operational RTGS Account, if it intends to use Category A1 collateral (SGD cash only) to settle bilaterally with the Authority; or ii. it has in place an operational SGS-Trade Account, if it intends to use Category A1 collateral (excluding SGD cash) to settle bilaterally with the Authority; or iii. it has in place SSI(s) relating to securities (“securities SSI(s)”) with the Authority and an operational CDP Account, if it intends to use Category A2 or A3 collateral to settle bilaterally with the Authority; or iv. it has in place operational Triparty Account(s) with the Appointed Triparty Agent(s), if it intends to settle Specified Collateral via the Appointed Triparty Agent(s). Where the Appointed Triparty Agent is CBL, this includes having in place an operational CBL Account; and (d) if it is a non-MEPS+ participant– i. it has in place an operational Current Account, if it intends to use Category A1 collateral (SGD cash only) to settle bilaterally with the Authority; or ii. it has in place an operational SGS-Reserve Account, if it intends to use Category A1 collateral (excluding SGD cash) to settle bilaterally with the Authority; or iii. it has in place securities SSI(s) with the Authority and its agent bank has in place an operational SGS Account, if it intends to use Category A1 collateral (excluding SGD cash) which are held with its agent bank to settle bilaterally with the Authority; or iv. it has in place securities SSI(s) with the Authority and an operational CDP Account, if it intends to use Category A2 or A3 collateral to settle bilaterally with the Authority; or v. it has in place operational Triparty Account(s) with the Appointed Triparty Agent(s), if it intends to settle Specified Collateral via the Appointed Triparty Agent(s). Where the Appointed Triparty Agent is CBL, this includes having in place an operational CBL Account. 2.2 An Eligible Counterparty which is a MEPS+ participant and which intends to use the Facility is advised to submit its USD cash SSI(s) and securities SSI(s) to FD1 1 Please refer to Clause 25.2 for the contact details of FD. via authenticated SWIFT MT199 / MT599 at least three (3) Business Days 2 before participating in its first Auction under the Facility. The USD cash and securities SSI(s) pre-established with the Authority shall be used for all Transactions relating to the Facility, unless the Authority is notified of a change in the SSI(s) by the Eligible Counterparty at least three (3) Business Days before the effective date of the change(s). 2.3 An Eligible Counterparty which is a non-MEPS+ participant and which intends to use the Facility is advised to submit its USD cash and securities SSI(s) to FD1 via authenticated SWIFT MT199 / MT599, or by way of a letter that is signed by the authorised signatories of the Eligible Counterparty at least three (3) Business Days2 before participating in its first Auction under the Facility. The USD cash and securities SSI(s) pre-established with the Authority shall be used for all Transactions relating to the Facility, unless the Authority is notified of a change in SSI(s) by the Eligible Counterparty at least three (3) Business Days before the effective date of the change(s). 2.4 The Authority’s USD cash SSI and securities SSI(s) are as follow: (a) USD Cash SSI: FEDERAL RESERVE BANK OF NEW YORK (SWIFT BIC : ▇▇▇▇▇▇▇▇) ABA NO.: ▇▇▇▇▇▇▇▇▇ ACCOUNT NAME: MONETARY AUTHORITY OF SINGAPORE – OPERATIONS ACCOUNT 1 (SWIFT BIC: ▇▇▇▇▇▇▇▇) (b) Securities SSI (via CDP – RTGS Settlement (for Category A2 and A3 collateral settled bilaterally)): PARTICIPANT CODE : DA 700 PARTICIPANT NAME: MONETARY AUTHORITY OF SINGAPORE CDP SECURITIES ACCOUNT NO. : 7001-2035-9705 (c) TCMS SSI (Clearstream) (for Specified Collateral settled via CBL): • Agent : ▇▇▇▇▇▇▇▇▇▇▇ BANKING S.A • SWIFT BIC : ▇▇▇▇▇▇▇▇ • MAS Collateral Account Number with Clearstream: Eligible Counterparty will be notified by MAS and CBL • USD Facility Collateral Basket Reference : MASUSDFAC 2.5 Notwithstanding that a Bank qualifies as an Eligible Counterparty under Clause 2.1, the Authority may refuse to deal with an Eligible Counterparty if the Eligible 2 If USD cash SSI(s) and securities SSI(s) are submitted after the stated deadline, MAS will process the request to participate in the Auction on a reasonable efforts basis. Counterparty does not comply with the relevant procedures for use of the Facility as stated in the Agreement.
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Sources: Terms and Conditions
Eligible Counterparties. 2.1 An eligible counterparty is a Bank that meets the following operational criteria (“Eligible Counterparty”):
(a) it has in place SSI(s) relating to USD cash (“USD cash SSI(s)”); and
(b) it has entered into a GMRA with the Authority; and
(c) if it is a MEPS+ participant –
i. it has in place an operational RTGS Account, if it intends to use Category A1 collateral (SGD cash only) to settle bilaterally with the Authority; or
ii. it has in place an operational SGS-Trade Account, if it intends to use Category A1 collateral (excluding SGD cash) to settle bilaterally with the Authority; or
iii. it has in place SSI(s) relating to securities (“securities SSI(s)”) with the Authority and an operational CDP Account, if it intends to use Category A2 or A3 collateral to settle bilaterally with the Authority; or
iv. it has in place operational Triparty Account(s) with the Appointed Triparty Agent(s), if it intends to settle Specified Collateral via the Appointed Triparty Agent(s). Where the Appointed Triparty Agent is CBL, this includes having in place an operational CBL Account; and
(d) if it is a non-MEPS+ participant–
i. it has in place an operational Current Account, if it intends to use Category A1 collateral (SGD cash only) to settle bilaterally with the Authority; or
ii. it has in place an operational SGS-Reserve Account, if it intends to use Category A1 collateral (excluding SGD cash) to settle bilaterally with the Authority; or
iii. it has in place securities SSI(s) with the Authority and its agent bank has in place an operational SGS Account, if it intends to use Category A1 collateral (excluding SGD cash) which are held with its agent bank to settle bilaterally with the Authority; or
iv. it has in place securities SSI(s) with the Authority and an operational CDP Account, if it intends to use Category A2 or A3 collateral to settle bilaterally with the Authority; or
v. it has in place operational Triparty Account(s) with the Appointed Triparty Agent(s), if it intends to settle Specified Collateral via the Appointed Triparty Agent(s). Where the Appointed Triparty Agent is CBL, this includes having in place an operational CBL Account.
2.2 An Eligible Counterparty which is a MEPS+ participant and which intends to use the Facility is advised to submit its USD cash SSI(s) and securities SSI(s) to FD1 1 Please refer to Clause 25.2 for the contact details of FD. via authenticated SWIFT MT199 / MT599 at least three (3) Business Days 2 Days2 before participating in its first Auction under the Facility. The USD cash and securities SSI(s) pre-established with the Authority shall be used for all Transactions relating to the Facility, unless the Authority is notified of a change in the SSI(s) by the Eligible Counterparty at least three (3) Business Days before the effective date of the change(s).
2.3 An Eligible Counterparty which is a non-MEPS+ participant and which intends to use the Facility is advised to submit its USD cash and securities SSI(s) to FD1 via authenticated SWIFT MT199 / MT599, or by way of a letter that is signed by the authorised signatories of the Eligible Counterparty at least three (3) Business Days2 before participating in its first Auction under the Facility. The USD cash and securities SSI(s) pre-established with the Authority shall be used for all Transactions relating to the Facility, unless the Authority is notified of a change in SSI(s) by the Eligible Counterparty at least three (3) Business Days before the effective date of the change(s).
2.4 The Authority’s USD cash SSI and securities SSI(s) are as follow:
(a) USD Cash SSI: FEDERAL RESERVE BANK OF NEW YORK (SWIFT BIC : ▇▇▇▇▇▇▇▇) ABA NO.: ▇▇▇▇▇▇▇▇▇ ACCOUNT NAME: MONETARY AUTHORITY OF SINGAPORE – OPERATIONS ACCOUNT 1 (SWIFT BIC: ▇▇▇▇▇▇▇▇)
(b) Securities SSI (via CDP – RTGS Settlement (for Category A2 and A3 collateral settled bilaterally)): PARTICIPANT CODE : DA 700 PARTICIPANT NAME: MONETARY AUTHORITY OF SINGAPORE CDP SECURITIES ACCOUNT NO. : 7001-2035-9705 (c) TCMS SSI (Clearstream) (for Specified Collateral settled via CBL): • Agent : ▇▇▇▇▇▇▇▇▇▇▇ BANKING S.A • SWIFT BIC : ▇▇▇▇▇▇▇▇ • MAS Collateral Account Number with Clearstream: Eligible Counterparty will be notified by MAS and CBL • USD Facility Collateral Basket Reference : MASUSDFAC
2.5 Notwithstanding that a Bank qualifies as an Eligible Counterparty under MASUSDFAC 1 Please refer to Clause 2.1, 25.2 for the Authority may refuse to deal with an Eligible Counterparty if the Eligible contact details of FD. 2 If USD cash SSI(s) and securities SSI(s) are submitted after the stated deadline, MAS will process the request to participate in the Auction on a reasonable efforts basis. .
2.5 Notwithstanding that a Bank qualifies as an Eligible Counterparty under Clause 2.1, the Authority may refuse to deal with an Eligible Counterparty if the Eligible Counterparty does not comply with the relevant procedures for use of the Facility as stated in the Agreement.
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Sources: Terms and Conditions