Page 640 - 《期货和衍生品行业监管动态》（2022年合集）

期货和衍生品行业监管动态

institutions (FIs’) access to liquidity. Second, FIs’ asset quality, amid pressures on
the debt servicing ability of corporates and households.

The key funding markets in Singapore are functioning normally, despite

heightened volatility in international financial markets. Market participants are able to

access funding as needed, though at higher interest rates. Banks continue to have

sufficient liquidity to intermediate SGD and foreign currency loans. The fund

management industry, and domestic equity and derivatives markets are also operating

well and in an orderly manner.

However, market participants should remain vigilant. The heightened market

volatility in international markets is expected to persist and funding conditions could

tighten further.

Turning to the asset quality of FIs, most corporates and households remain

financially resilient even with the rise in interest rates. Based on available data, the
proportion of non-performing loans (NPL) for the corporate sector has declined over

the past year – from 3.1% in June 2021 to 2.5% in June 2022, even as the sector

reported continued revenue growth. The household sector saw net wealth and liquidity

increase through the pandemic, providing buffers against rising debt servicing cost.

NPL for household mortgages also remains low at 0.3%.

At the same time, banks and insurers in Singapore have strong capital buffers

against possible weakening in asset quality under stressful conditions.

Essentially, our financial sector has built up strong buffers to navigate the

challenging global financial environment. Regular stress-testing is carried out to

assess the sector’s resilience to potential downside risks. MAS remains vigilant and

continues to work closely with the financial industry to ensure sound risk

management.

https://www.mas.gov.sg/news/parliamentary-replies/2022/reply-to-parliamentary-que

stion-on-extent-of-vulnerability-of-the-singapore-financial-sector#

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