Singapore to ease banks' capital buffer rules to boost lending amid virus outbreak [Reuters]
DBS GROUP HLDGS LTD S/ADR (DBSDY)
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Source: Reuters
Singapore to ease banks' capital buffer rules to boost lending amid virus outbreak SINGAPORE (Reuters - Singapore’s central bank announced further measures on Tuesday to boost bank lending, including relaxing capital buffer and liquidity requirements for lenders, to help mitigate the economic fallout from the coronavirus pandemic. The Monetary Authority of Singapore (MAS) said in a statement it is encouraging banks to “utilise their capital buffers as appropriate to support their lending activities. “Our banks have sufficient capital to see them through the current economic slump while continuing to supply credit to the economy to support businesses and individuals,” it said. Singapore’s three main lenders, DBS Group Holdings Ltd ( DBSM.SI ), Oversea-Chinese Banking Corp Ltd ( OCBC.SI ) and United Overseas Bank Ltd ( UOBH.SI ) had forecast muted earnings growth for 2020 even before the virus outbreak. The city-state is bracing for its worst recession ever as the pandemic severel
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