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DBSDY DBS Group Holdings Ltd (PK)

128.02
-0.11 (-0.09%)
24 Dec 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
DBS Group Holdings Ltd (PK) USOTC:DBSDY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  -0.11 -0.09% 128.02 126.72 129.51 128.92 125.60 127.144 13,062 18:15:00

Singapore Designates Seven Banks as 'Systemically Important'

30/04/2015 1:27pm

Dow Jones News


DBS (PK) (USOTC:DBSDY)
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By Gaurav Raghuvanshi 

Singapore's central bank Thursday named seven local and international banks that it considers "systemically important" to the island nation and said that it would increase supervision of them.

The banks named by the Monetary Authority of Singapore in its initial list include Citibank, Standard Chartered Bank, Hongkong and Shanghai Banking Corp. among the international banks. In addition, three local banks-- DBS Group Holdings Ltd., Oversea-Chinese Banking Corp. and United Overseas Bank--and Malaysia's Malayan Banking Bhd. are also on the first list.

The identified banks will be required to locally incorporate their retail operations and will be subjected to higher capital requirements, the Authority said.

These banks are "assessed to have a significant impact on the stability of the financial system and proper functioning of the broader economy," the Authority said. All banks in Singapore will be assessed for their systemic importance annually based on several factors including their size, interconnectedness and complexity, it said.

Write to Gaurav Raghuvanshi at gaurav.raghuvanshi@wsj.com

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