Singapore banking system’s exposure to failed US banks ‘insignificant’ – central bank

FILE PHOTO: File photo of the logo of the Monetary Authority of Singapore at its building in Singapore

SINGAPORE (Reuters) – Singapore banking system has insignificant exposure to failed banks in the United States, its central bank said on Monday.

Banks in Singapore are well capitalised and conduct regular stress tests against interest rate and other risks, the Monetary Authority of Singapore (MAS) said in a statement.

MAS is in close touch with local authorities to assess any potential impact on Singapore startups, including those with U.S. operations.

(Reporting by Chen Lin; Editing by Martin Petty)