{
  "title": "Singapore: Financial System Stability Assessment",
  "publication": "IMF Staff Country Reports, July 15, 2019",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2019/07/15/singapore-financial-system-stability-assessment-47108",
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  "summary": "This Financial System Stability Assessment paper on Singapore highlights the attractiveness of Singapore as a financial center is underpinned by strong economic fundamentals, sound economic policies, and a sophisticated financial oversight framework.",
  "sections": [
    {
      "heading": "Key findings on financial system resilience and risks",
      "content": "- The attractiveness of Singapore as a financial center is underpinned by strong economic fundamentals, sound economic policies, and a sophisticated financial oversight framework.\n- The financial system is exposed to global and regional macrofinancial shocks through significant trade and financial channels but appears resilient even under adverse scenarios.\n- Banks’ U.S. dollar liquidity is vulnerable to stress conditions.\n- Fintech developments so far have focused on partnerships with existing financial institutions and do not appear to contribute significantly to systemic risk."
    },
    {
      "heading": "Policy recommendations and supervisory priorities",
      "content": "- Continue to enhance the strong oversight of the financial system.\n- Strengthen the framework for resolution and safety nets by devoting more resources to the Monetary Authority of Singapore (MAS)’ Resolution Unit.\n- Enhance the oversight of MAS Electronic Payments System by ensuring more staffing resources."
    },
    {
      "heading": "Subjects and thematic coverage",
      "content": "- Banking; Cyber risk; Domestic systemically important banks; Financial institutions; Financial Sector Assessment Program; Financial sector policy and analysis; Financial sector stability; Insurance companies; Stress testing; Technology.\n\n---\n\n Content in this bundle\n\n- Singapore: Financial System Stability Assessment; IMF Country Report No. 19/224; June 24, 2019\n  - Singapore: Financial System Stability Assessment; IMF Country Report No. 19/224; June 24, 2019 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Singapore: Financial System Stability Assessment; IMF Country Report No. 19/224; June 24, 2019 (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/cr/issues/2019/07/15/singapore-financial-system-stability-assessment-47108/index.md)",
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    "Published: July 15, 2019",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781498325806.002",
    "The attractiveness of Singapore as a financial center is underpinned by strong economic fundamentals, sound economic policies, and a sophisticated financial oversight framework.",
    "The financial system is exposed to global and regional macrofinancial shocks through significant trade and financial channels but appears resilient even under adverse scenarios.",
    "Banks’ U.S. dollar liquidity is vulnerable to stress conditions.",
    "Fintech developments so far have focused on partnerships with existing financial institutions and do not appear to contribute significantly to systemic risk.",
    "Continue to enhance the strong oversight of the financial system.",
    "Strengthen the framework for resolution and safety nets by devoting more resources to the Monetary Authority of Singapore (MAS)’ Resolution Unit.",
    "Enhance the oversight of MAS Electronic Payments System by ensuring more staffing resources.",
    "**Singapore: Financial System Stability Assessment; IMF Country Report No. 19/224; June 24, 2019**"
  ],
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}