Let charities buy treasury bills more easily
The Monetary Authority of Singapore and the banks have done a good job of making the purchase of Treasury bills accessible to individuals, so they can enhance their savings. People can apply for Treasury bills via an ATM or Internet banking with a Central Depository (CDP) account, for a minimum investment of $1,000.
- by autobot
- Nov. 1, 2022
- Source article
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The Monetary Authority of Singapore and the banks have done a good job of making the purchase of Treasury bills accessible to individuals, so they can enhance their savings. People can apply for Treasury bills via an ATM or Internet banking with a Central Depository (CDP) account, for a minimum investment of $1,000. It would be great if this easy access could be extended to charities, which are working hard to collect donations and save up for projects. Charities are able to purchase such bills through banks or other third parties, but doing so incurs additional transaction costs, and banks typically ask for a minimum investment of at least $1 million. Ease of access would further enhance the market efficiency and depth of the Singapore Government Securities market.