monetary authority of singapore

Singapore bank lending down for fifth month in July

SINGAPORE's bank lending extended its slide for the fifth straight month in July, dipping 0.2 per cent to S$678.7 billion from the previous month on general weakness in business loans.

Higher salary floor for foreign hires may put financial hub aspirations at risk

RAISING the salary threshold for Employment Passes (EPs) amid recessionary pressures can encourage financial institutions to hire locals, but some economists think such a "protectionist response"...

Singaporeans hold 43% of senior roles in financial sector: MAS chief

WHILE Singapore citizens account for 70 per cent of senior management roles in retail banks' local functions, the proportion comes down to about 43 per cent in relation to senior management jobs...

Dividend cap on Singapore banks to weigh down sentiment

ANALYSTS have reset their dividend estimates for Singapore banks in the upcoming second-quarter results, while also projecting for sharp dips in share prices in the near term, after the regulator...

Fitch Solutions sees Singapore dollar rising to S$1.38 to greenback next year

FITCH Solutions has revised its forecast for the Singapore dollar's (SGD) average exchange rate this year to a stronger S$1.3950 per US dollar (USD), from its previous forecast of S$1.4250.

Singapore bank lending continues to slide in June

BANK lending in Singapore continued its decline for the fourth consecutive month in June, dragged down by business loans and consumer loans amid the uncertainty from the ongoing Covid-19 pandemic...

Singapore bank lending extends fall in June for fourth consecutive month

BANK lending in Singapore continued its slide for the fourth consecutive month in June, dipping 0.7 per cent from the previous month to come in at S$680.36 billion, preliminary data from the...

Financial institutions must make use of data to survive

IN THE banking, finance and insurance sectors, legacy systems are the anchors that keep the business rooted to the past. Moving away from legacy systems can be both technically and culturally...

Digibank aspirants have viable path ahead, despite Covid-19 challenge: analysts

DIGITAL bank aspirants in Singapore still have a viable path ahead despite the uncertainties wrought by the pandemic, for the simple reason that there is a flexible timeline for them to set up...

MAS seeks more teeth to regulate financial services amid emerging cyber risks

THE Monetary Authority of Singapore (MAS) is proposing new laws that will give it more teeth to regulate financial services in the Republic amid emerging risks, such as those brought on by the...

MAS, banks to see how best to wean borrowers off Covid-19 reliefs

THE Monetary Authority of Singapore (MAS) is studying the delicate balance of when and how to ease virus relief measures, so as to mitigate unintended "cliff" effects when these helplines expire...