Monetary Authority of Singapore (MAS)

MAS's survey also showed that Singapore’s financial institutions are most worried about uncertainty in the macroeconomic environment, especially a slowdown in growth and a resurgence in inflation.

MAS has streamlined financial reporting to include adjusted ICR of 1.5x and leverage of 50%, including impact of perps.

MAS FSR shows banks can stand multiple shocks, but CET1 ratio would fall and credit costs would rise significantly from current levels.

However, with the growth momentum seen in 3Q2024, corporates may see better earnings in the second half of 2024.

Headline inflation and core inflation both fell by 0.3% on a m-o-m basis.

The Singapore government has also committed up to US$500 million in concessional funding to support the Financing Asia’s Transition Partnership (Fast-P), which was announced last year.

The arrangement comprises two agreements including a local currency bilateral swap agreement.

The central bank announced four plans to advance tokenisation in financial services today.

In other news, FHT says the risk of the potential loss of its MIT status has always been present and that the loss of status was beyond its control.

StraitsX's Chan says that the company has been working on having an official public launch for its partnership with Grab and Alipay at SFF 2024.