The Monetary Authority of Singapore (MAS) is Singapore’s central bank and integrated financial regulator. MAS also works with the financial industry to develop Singapore as a dynamic international financial centre. In March 2022, MAS created a new kind of Securities, Reserve Management Government Securities (RGMS), designed to transfer the excess of Official Foreign Reserves (OFR) into GIC for the pursuit of higher-risk opportunities. As of September 2025, the RMGS amounted to US$ 211 billion.