Daily Debrief: What Happened Today

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Money laundering now a greater risk, say Singapore financial institutions

PERCEIVED risks from money laundering and terrorism financing (ML/TF) against Singapore’s financial system have risen, according to the Monetary Authority of Singapore’s (MAS) report on Monday (Nov 27).

Higher interest rates, falling property values key risks to household balance sheets: MAS

HOUSEHOLDS will need to adjust to higher-for-longer interest rates, and some may be vulnerable to income and rate shocks as well as falling property valuations, the Monetary Authority of Singapore (MAS) said in its annual Financial Stability Review on Monday (Nov 27). 

Singapore services receipts growth slows for 5th straight quarter to 3.2% in Q3

SINGAPORE’S services industries posted a 3.2 per cent year-on-year rise in business receipts in Q3, easing from the revised 3.8 per cent increase in the preceding quarter, data from the Department of Statistics (Singstat) showed on Monday (Nov 27). The latest print marked the fifth consecutive quarter of slowing growth.

OCBC, UOB, DBS to allow customers to lock savings

CUSTOMERS of the three local banks will soon be able to lock their savings. Locked funds cannot be digitally used or moved, and physical verification will be required to unlock these, said OCBC, UOB and DBS in separate statements on Monday (Nov 27).

Singapore stocks end lower amid regional decline; STI down 0.3%

SINGAPORE stocks closed lower on Monday (Nov 27), tracking declines in the region.