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Singapore Private Banks Under Scrutiny for Selling Risky Debts

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News in Brief - Caproasia Online


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Singapore Private Banks Under Scrutiny for Selling Risky Debts

Singapore’s private banks are coming under scrutiny for earning bonuses by selling risky debt, as the city sees a  wave of defaults. Bond issuers offer banks rebates of as much as 1 percent as incentive to sell unrated securities, according to a Bloomberg News analysis of figures from bond-sale arrangers and compiled by analysts.

At least half the S$875 million ($650 million) of bonds that have failed since November were sold by private banks earning rebates.

News Source: Bloomberg

 





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