Reuters UK, 19 Feb 2009, Nopporn Wong-Anan
SINGAPORE, Feb 19 (Reuters) - Singapore is reviewing financial sector regulations to reduce shocks to the system, its Prime Minister Lee Hsien Loong said on Thursday.
He said it is unlikely a bank in Singapore will fail, but the authorities would remain alert to any contagion or systemic risk from a global financial crisis that has driven the Southeast Asian city-state into its worst ever recession.
"We are reviewing our regulations," he said at a dinner to mark Standard Chartered's (STAN.L) 150th anniversary in Singapore. "Our basic framework has worked well, but we are scrutinising the system to minimise vulnerabilities."
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