Rising bad debt fears: MAS says local banks have adequate buffers

Singapore

THE Monetary Authority of Singapore said on Thursday that local banks have adequate buffers in place to withstand stresses in their credit portfolio amid concerns over rising bad debts.

"As part of our supervision, MAS checks banks' credit underwriting and risk management practices, as well as provisioning standards to ensure they remain prudent," said an MAS spokeswoman.

"The local banks undertake regular portfolio re…