Singapore slings old 4% covered bond limit

By Bill Thornhill
21 Oct 2020

The Monetary Authority of Singapore (MAS) has substantially increased its covered bond issuance limit which had stood at 4% of assets on an issuer’s balance sheet. This, along with very strong market conditions, should help to induce the country’s borrowers, which have not printed in euros for more than two years, to make an appearance before the year is out.

Covered bond borrowers in Singapore can now encumber up to 10% of the assets on their balance sheet with covered bond issuance, the MAS said in a notice last week.

The change, which took effect on October 16, was welcomed by analysts at DZ Bank. ...

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