From irrational exuberance to irrational despair

The downgrading of local banks by Moody’s has elicited a strong rebuttal from MAS. MAS disagrees with the conclusion and offers a list of reasons to support its position. Our banks are financially sound with good asset backings and strong capital reserves. We also have strong regulations that are above what others are doing. The banks are regularly put under stress tests to ensure that they can