Singapore lenders to face 'significant burden' over MAS censure

Will it really improve internal controls?

In a report by Bloomberg, Lawrence Wong, an acting minister and board member of the city’s central bank, said Singapore’s censure of 20 banks for trying to rig benchmark interest rates will result in a “significant burden” on the lenders.

The Monetary Authority of Singapore last month ordered them to set aside as much as S$12 billion ($9.4 billion) at zero interest, pending steps to improve internal controls. ING Groep NV (INGA), Royal Bank of Scotland Group Plc and UBS AG (UBSN) were among the banks at which 133 traders tried to manipulate the Singapore interbank offered rate, swap offered rates and currency benchmarks in the city-state.

Read full report here.

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia