Singaporean banks are not at risk, the city-state's central bank said Tuesday after credit rating agency Moody's downgraded its outlook on local lenders to "negative".
The three home-grown banks have the highest average credit ratings among banking systems worldwide and hold adequate capital to weather financial stresses, the Monetary Authority of Singapore (MAS) said.
It was reacting to an announcement by Moody's on Monday lowering its outlook for Singapore's three main banks to "negative" from "stable". Full story
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