Singapore's financial system can weather geopolitical uncertainties: MAS

A review by the central bank has shown that Singapore's financial system is able to weather heightened geopolitical uncertainties in the year ahead. The Monetary Authority of Singapore looked at how the system will fare in extreme simulated economic scenarios. On the business front, most local firms were assessed as having earned enough to pay their debt. Banks were assessed to have sufficient buffers in place to withstand shocks. Stress tests revealed more than 90% of households are able to continue paying their mortgages.