Introduction to Singapore Government Securities

Singapore Government Securities (SGS) are marketable debt instruments of the Government of Singapore. These debt instruments take the form of either Treasury bills (T-bills) or bonds and are backed by the full faith and credit of the Singapore Government. As the Government does not use debt to finance its expenditure, SGS are issued to meet banks’ needs for a risk-free asset in their liquid-asset portfolios and as part of a broader strategy to grow Singapore into an international centre for debt capital management. The Monetary Authority of Singapore issues SGS on behalf of the Government, in its capacity as the Government’s fiscal agent.

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