Why MAS Reprimanded 20 Banks, and What It Means for You

[Arcachon]

http://www.moneysmart.sg/housing-property/why-mas-reprimanded-20-banks-and-what-it-means-for-you/

Nineteen of the banks reprimanded by MAS have been directed to set aside deposits ranging from S$100 million to S$1.2 billion for one year. ING, UBS and RBS face the highest deposit requirements, which MAS said was due to the "severity" of the manipulation attempts by their employees.

Singapore's three major homegrown banks didn't escape censure from the MAS, and will be required to keep deposits. Among the banks, Oversea-Chinese Banking Corp. must set aside up to S$800 million, while DBS Bank Ltd. and United Overseas Bank Ltd. will set aside up to $600 million each.

http://www.marketwatch.com/story/singapore-slaps-20-banks-for-trying-to-sway-rates-2013-06-14

http://www.tremeritus.com/2013/06/14/mas-reprimands-20-banks-133-traders-for-attempting-to-influence-financial-benchmarks/

[thomastansb]

The money gathered at 0% for 1 year will amount to a lot of money for MAS.

1 billion x 3% gain = 3 million already. 1 bank 3 million. 20 banks how much?

[minority]

60 Mill .. small money.. equal to 1 small MNC annual turn over.

or not even enough for a developer to bid for a sizable land to build condo.

[Arcachon]

Fed says it will continue $85B in bond purchases.

http://www.cbsnews.com/8301-505123_162-57590075/fed-says-it-will-continue-$85b-in-bond-purchases/


Huat Ah......

[yowetan]

It means lesser bonus and more simplification to the organization structure.

It is also translating to higher interbank lending rates.

Crash is coming.

[ysyap]

Fed says it will continue $85B in bond purchases.

http://www.cbsnews.com/8301-505123_162-57590075/fed-says-it-will-continue-$85b-in-bond-purchases/


Huat Ah......So is bond still the way to go in 2014? :rolleyes: