Unrated bonds: Conflict of interest flagged
S'pore private banks' practice of earning rebates from such bond sales under scrutiny
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SINGAPORE'S private banks are coming under scrutiny for earning bonuses by selling risky debt, as the city sees an unprecedented wave of defaults. The central bank says an industry group is reviewing the practice.
Bond issuers offer banks rebates of as much as one per cent as incentive to sell unrated securities, according to a Bloomberg News analysis of figures from bond-sale arrangers and compiled by analysts.
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