The Business Times
business-time-50

Singapore banking system remains ‘sound and resilient’ amid SVB collapse: MAS

google-preferred-sourceAdd BT as a preferred source
Tan Nai Lun

Tan Nai Lun

Published Mon, Mar 13, 2023 · 04:45 PM
    • Analysts expect the fallout from SVB to have limited impact on Singapore banks, given fundamental differences between the local lenders and SVB.
    • Analysts expect the fallout from SVB to have limited impact on Singapore banks, given fundamental differences between the local lenders and SVB. PHOTO: BT FILE

    THE Singapore banking system remains “sound and resilient” amid the recent collapse of Silicon Valley Bank (SVB) and a couple of other small banks, said the Monetary Authority of Singapore (MAS) on Monday (Mar 13).

    Analysts also expect SVB’s fallout to have limited impact on Singapore’s banks, given fundamental differences between the local lenders and SVB.

    In a statement on Monday, MAS said the Singapore banking system has “insignificant exposures to these failed banks in the US”.

    Silicon Valley BankSingapore banksMonetary Authority of SingaporeUS Federal ReserveBanks

    TRENDING NOW

    Eugene Lai (left) says that he was sharing a view with Tan Chian Khong that the board needed a refresh and that it was not an explicit direction to resign.

    CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh

    Allowing some older malls to evolve organically could help Orchard Road retain diversity, says one observer.

    Room for more offices, homes and green spaces to make Orchard Road more vibrant

    Siranudh Scott had caused an internet sensation with a video accusing his brother of allegedly abusing him during his childhood years.

    ‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse

    The amendments "aim to protect the competitive process of takeover and merger transactions", says SIC.

    MAS revises takeover and merger code to enhance competition and disclosures

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More