MAS “closely monitoring” global IT outage

Major banks reported little to no impact to customers and key operations.

Singapore’s central bank is “monitoring closely” the global outage that resulted from a software update rolled out by Crowdstrike.

In a press statement, the Monetary Authority of Singapore (MAS) said that major financial institutions in Singapore reported none to limited impact to customers and their key operations.

“Some experienced disruptions to internal-facing systems used by staff but in all cases, critical systems were unaffected. Access to SGX’s post trade system was temporarily disrupted, but other critical trading and clearing services were not affected,” MAS said in a press release released on 19 July.

MAS’ systems, including MAS Electronic Payment System (MEPS+), the real time gross
settlement system for SGD payments, have not been affected as of press time.

As a precautionary measure, MAS extended the operating hours of MEPS+ by two hours to 9PM on 19 July.

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OCBC Bank

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Monetary Authority of Singapore

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