What are the criteria for inclusion of Fixed Deposit Banks under the CPF Investment Scheme (CPFIS)?
In considering the inclusion of Fixed Deposit Banks under CPF Investment Scheme, the Board uses the following criteria:
- The bank must be locally incorporated with minimum capital funds of S$1.5 billion and good credit rating; or
- The bank must be a subsidiary of a locally-incorporated bank which meets the criteria at (i). The bank must continue to be a subsidiary of the locally-incorporated bank; or
- If the bank is a foreign bank, it must be accorded the Qualifying Full Bank privileges