| Ten percent of it must be in the form of Singapore government securities, with the rest in the form of cash or other liquid assets. |
| The remainder is invested in liquid assets such as cash and money market instruments. |
| This is simplest if you have spare cash, shares or other liquid assets that can easily be siphoned off into a trust when you die. |
| In other words, any mixture of liquid assets will be classified as money as long as this mixture passes the correlation test. |
| At the same time, greatly heightened demand for safe and liquid assets encouraged shifts from equity markets into deposit assets. |
| There are no liquid assets aside from money, unless there is a central bank. |
