Singapore

The Merlion Ingot is in the spotlight.

Authorities have been proactive.

It's one of possible additional safety nets.

Housing NPL ratio could be at risk.

Singapore banks are lauded for being very ready.

On average, an associate investment banker in Singapore earns SG$86,811 per year, almost double the median gross yearly income of a typical worker who earns around SG$44,500. Yet salaries well above the norm don't seem to be enough to keep banking and finance employees in one place.

Asset quality deterioration is a key concern.

They're part of a medium-term program.

The bank's also fine-tuning exisiting capabilities.

Are all banks on the same level?.

With the Singapore banking sector starting to reach maturity, many HR departments are now focusing on attracting and retaining talent, in particular the pressing need to develop more local Singaporean leaders. This demand for more effective leadership has burgeoned in recent years given banking crises, increased regulation, and budget constraints.

Another milestone for the finance industry.

Local regulatory standards are also evolving.

A property bubble has also been deflated.

Singapore is on the brink of concluding an agreement with the US to clamp down on tax evasion by US citizens or residents (US persons), a move that will enhance Singapore’s credentials as a global financial hub.

As a consequence of the financial turmoil in 2008, Basel III adds new requirements for the composition and quality of capital to financial institutions. In Asia Pacific, the first countries already began transposing Basel III into local regulatory rules in 2013 whereas globally, most countries started implementation in 2014.