The Monetary Authority of Singapore
("MAS") has published its
Financial Stability Review ("FSR")
which sets out its assessment of risks and vulnerabilities arising
from developments in Singapore and the global economy, and their
implications for the soundness and stability of Singapore's
financial system. The analyses and results contained in the FSR aim
to contribute to a greater understanding among market participants,
analysts and the public on issues affecting Singapore's
financial system.
Emerging sources of financial stability risks identified by the
FSR include (i) a more pronounced manifestation of climate-related
physical and transition risks, and (ii) the growing prominence of
crypto-assets in financial activity. While these risks may be less
pronounced at this juncture, they warrant close monitoring and an
active assessment of options due to their potential to rapidly
develop and materialise into significant stability risks over the
next 3 to 5 years. We
