Second Minister for Finance Chee Hong Tat on Nov 12 asked Parliament to approve a motion to raise the issuance limit for government securities and Treasury bills under the Government Securities (Debt Market and Investment) Act (GSA) to $1.515 trillion.
The issuance limit for Singapore Government Securities (SGS) (Market Development), Treasury bills (T-bills), Singapore Savings Bonds (SSB) and Special Singapore Government Securities (SSGS) is now at $1.065 trillion.
It was last raised in 2021 when Parliament authorised the increase from $690 billion to $1.065 trillion, which was intended to last till 2025.
With the additional $450 billion now being proposed, the increase is intended to last till 2029.
More than 60 per cent of the increase is expected to be issued as SSGS. These are non-marketable securities, primarily issued for CPF investments.
They also serve to ensure safe and fair returns on CPF monies.
CPF monies are invested in SSGS, which are fully guaranteed by the Government.
This provides the assurance that the CPF Board will be able to pay the interest committed and monies due to CPF members.
This story is from the November 13, 2024 edition of The Straits Times.
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This story is from the November 13, 2024 edition of The Straits Times.
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