International Herald Tribune, 16 Oct 2008, The Associated Press
SINGAPORE: Singapore said Thursday it will guarantee 150 billion Singapore dollars (US$102 billion) of foreign currency bank deposits for more than two years after regional finance rival Hong Kong moved to protect its deposits earlier this week.
The government committed S$150 billion of its reserves to guarantee all dollar deposits of individual and nonbank customers of banks, financial companies and merchant banks until December 31, 2010, the Finance Ministry and central bank said in a joint statement.
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