Featured Product

    MAS Publishes Report on the Financial Stability Review for 2018

    November 23, 2018

    MAS published the results of its financial stability review for 2018. The intention of the review is to contribute to a better understanding of issues affecting Singapore’s financial system among market participants, analysts, and the public. The report on financial stability review offers an analysis of the financial sector in Singapore, also focusing on risks in the external environment and reviewing the corporate and household sectors.

    MAS conducts regular assessments of the financial system in Singapore, which includes identification of the potential risks and vulnerabilities and a review of the ability of the financial system to withstand potential shocks. The following are the key highlights of the review:

    • Risks to global financial stability have increased, amid tighter financial conditions and trade tensions. Tightening global financial conditions have caused capital outflows from the region and could create further pressures on regional currencies and the debt-servicing abilities of sovereigns, corporates, and households.
    • The country's banking system, corporate sector, and household fundamentals remain resilient. The banking system remains resilient, despite increased uncertainty. MAS assesses that domestic credit growth remains in line with the economic conditions and does not observe any broad-based domestic credit overheating at this juncture. Hence, MAS will maintain the countercyclical capital buffer (CCyB) at 0%.
    • Looking ahead, corporates, banks, and households in Singapore need to guard against rising headwinds. The latest stress tests of MAS across the banking, corporate, and household sectors indicate that the overall system is resilient. Nonetheless, continued vigilance is warranted, as the likelihood of external shocks from tighter financial conditions and of materialization of trade tensions has increased, which, in turn, raises the risks to financial stability.

    Keywords: Asia Pacific, Singapore, Banking, Insurance, Securities, CCyB, Stress Testing, Financial Stability Review, MAS

    Featured Experts
    Related Articles
    News

    APRA Revises Related Entities Standard for Banks

    APRA published a strengthened prudential standard APS 222 on associations with related entities, with the aim to mitigate contagion risk within banking groups.

    August 20, 2019 WebPage Regulatory News
    News

    FSB on Responses to Consultation on Wind-Down of Trading Portfolios

    FSB published responses received to the consultation on the solvent wind-down of the derivatives and trading book portfolio of a global systemically important bank (G-SIB).

    August 19, 2019 WebPage Regulatory News
    News

    FSB Publishes Responses to Consultation on Resolvability Disclosures

    FSB published responses received to the consultation on disclosures for resolution planning and resolvability of banks.

    August 19, 2019 WebPage Regulatory News
    News

    HKMA Revises Implementation Schedule for Initial Margin Rules

    HKMA intends to adopt a revised implementation schedule for the margin requirements for non-centrally cleared derivatives.

    August 16, 2019 WebPage Regulatory News
    News

    HKMA Revises Guideline on Application of Banking Disclosure Rules

    HKMA issued a revised version of the Supervisory Policy Manual module CA-D-1 on guideline on the application of the Banking (Disclosure) Rules (BDR).

    August 16, 2019 WebPage Regulatory News
    News

    ECB Decision on Recognizing Reporting Member States Under AnaCredit

    ECB has finalized the Decision 2019/1348 (ECB/2019/20) that establishes procedure for recognizing non-euro area member states as reporting member states under the AnaCredit Regulation (EU 2016/867).

    August 16, 2019 WebPage Regulatory News
    News

    FASB Proposes to Extend CECL Standard Deadline for Certain Entities

    FASB proposed an Accounting Standards Update that would grant private companies, not-for-profit organizations, and certain small public companies additional time to implement FASB standards on current expected credit losses (CECL), leases, and hedging.

    August 15, 2019 WebPage Regulatory News
    News

    IASB Adds Phase Two of IBOR Reform to Its Work Plan

    IASB (or the Board) has added the second phase of its project focused on potential financial reporting implications linked to the interest rate benchmark reform—interbank offer rate (IBOR) reform—to its work plan.

    August 15, 2019 WebPage Regulatory News
    News

    FED Updates Draft Instructions for Proposed FR Y-14 Reporting Forms

    FED updated draft instructions for the monthly, quarterly, and annual capital assessments and stress testing reports, also known as forms FR Y-14M, FR Y-14Q, FR Y-14A, respectively.

    August 15, 2019 WebPage Regulatory News
    News

    FASB Proposes Taxonomy Changes Related to Topics 326, 815, and 842

    FASB is proposing taxonomy improvements for the proposed Accounting Standards Update on clarifying the interactions among topic 321 on investments in equity securities), topic 323 on investments under equity method and joint ventures), and topic 815 on derivatives and hedging.

    August 15, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 3665