Singapore's banks face 'insignificant' exposures to Credit Suisse
The Monetary Authority of Singapore (MAS) said on March 16 that the exposure that Singaporean banks - DBS, OCBC and UOB - have to troubled banking giant Credit Suisse are "insignificant.”
Singapore (VNA) – The Monetary Authorityof Singapore (MAS) said on March 16 that the exposure that Singaporean banks -DBS, OCBC and UOB - have to troubled banking giant Credit Suisse are"insignificant.”
Singapore’s banking system remains sound andresilient, MAS said in response to media queries.
Banks in Singapore are well-capitalised and conductregular stress tests against credit and other risks, the financialauthority said in a statement, adding that their liquidity positions are healthy, underpinned by astable and diversified funding base.
The authority said while Credit Suisse operates abranch in Singapore, its main activities are private banking and investmentbanking, and it does not serve retail customers here.
MAS said it has been in contact with the SwissFinancial Market Supervisory Authority (FINMA), the parent supervisory authority ofCredit Suisse, over recent developments relating to the bank and will continuekeeping a watch on the situation.
On March 13, MAS also announced that the Singaporebanking system has “insignificant exposures” to the failed Silicon Valley Bank(SVB) and Signature Bank, which collapsed in recent days./.
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In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
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This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Illustrative image (Source: Xinhua/VNA) 
