Singapore: Financial System Stability Assessment
IMF Staff Country Reports, April 26, 2004
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- Singapore: Financial System Stability Assessment
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Bibliographic details
- Published: April 26, 2004
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451834222.002
Executive summary and system-wide findings
- Singapore’s financial sector, which is dominated by the banking sector, remains robust despite a series of economic downturns and substantial asset price declines.
- Economic developments in the past few years have highlighted Singapore’s vulnerability to exogenous shocks, including the outbreak of Severe Acute Respiratory Syndrome (SARS).
- Systemic liquidity is well managed.
- Singapore has proactively implemented significant financial sector reforms since 1998.
- Although it has undergone major structural changes in recent years, Singapore’s financial sector is still dominated by the banking industry.
Major themes and institutional coverage
- Banking sector dominance: emphasis on commercial banks, foreign banks, and local banks as central to system stability.
- Nonbank sectors referenced: insurance companies and corporate bond markets.
- Key risk factors identified: loan concentration, interest margin pressures, and sensitivity to external shocks.
Subjects and keywords (as provided)
- Subjects: Banking, Commercial banks, Corporate bonds, Financial institutions, Foreign banks, Insurance companies, Loans
- Keywords: after-tax profit growth, bank, bank loan, Commercial banks, Corporate bonds, CR, Foreign banks, Global, Insurance companies, interest, interest margin, ISCR, loan concentration, Loans, local bank, Non-interest income, profits from Malaysia, weighted average capital adequacy ratio
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- Singapore: Financial System Stability Assessment