- Earlier this year the Basel Committee said that
Singapore is compliant with the Basel framework. It was only
the fourth jurisdiction to be assessed;
- Singaporean banks are well capitalised, and its
central bank’s implementation standards are
higher than those specified in the Basel III
- United Overseas Bank has already issued an
additional tier 1 (AT1) bond, while DBS has established a
programme to issue contingent convertible
Singapore is proving a trailblazer for Basel III
implementation, with the country’s banks already
looking to innovative capital raising instruments.
In March, the city-state became only the fourth
jurisdiction to be deemed Basel compliant by the Basel Committee on
Banking Supervision (BCBS), joining the EU and US which had
been assessed in October 2012.
But Singapore-incorporated banks were well prepared...