Singapore: Financial System Stability Assessment

International Monetary Fund

No 2013/325, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses key findings of the Financial System Stability Assessment on Singapore. The Singapore financial system is highly developed, and well regulated and supervised. Singapore’s current regulation and supervision are among the best globally. The Monetary Authority of Singapore (MAS) oversees the entire financial system, and has the analytical and operational capabilities to do so effectively. Singapore is exposed to a broad array of domestic and global risks, especially in light of its interconnectedness with other financial centers. Stress tests suggest that these risks are manageable. This reflects the decisive macroprudential actions taken by MAS to address the threat of a bubble in the housing sector.

Keywords: ISCR; CR; U.S. dollar; interest rate; capital ratio; banking system; credit risk; central bank; hurdle rate; foreign currency; housing market; capital base; parent bank; market share; banking sector; nominal GDP; Credit; Foreign banks; Basel III; Capital adequacy requirements; Commercial banks; Global; Asia and Pacific (search for similar items in EconPapers)
Pages: 69
Date: 2013-11-14
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