The Monetary Authority of Singapore (MAS) has reported that major financial institutions in Singapore experienced minimal or no disruption to customer services and key operations following a global IT system outage.
MAS had asked these institutions to report the impact of the outage.
The Microsoft-CrowdStrike outage, which began in the early hours of 19 July, affected internal systems across multiple sectors, including finance, healthcare, and logistics, raising concerns about operational continuity and cybersecurity.
Despite some institutions facing issues with internal systems, critical functions remained unaffected.
MAS systems, including the MAS Electronic Payment System (MEPS+), which manages real-time gross settlements for SGD payments, were also unaffected.
As a precaution, MAS extended the operating hours of MEPS+ by two hours, until 9 pm, to ensure smooth payment settlements.
The Singapore Dollar (SGD) money market and foreign exchange market continued to operate normally.
There was a temporary disruption to the SGX post-trade system, but other essential trading and clearing services were not impacted.
MAS said that it is closely monitoring the situation to address any further developments.
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