Ireland and France announce over the week that the government will guarantee customer's bank deposits in full. US of A is going to raise the guaranteed amount from USD 100,000 to USD 250,000.
In the meantime MAS sees it fit to only apply guarantees of SGD 20,000 for each account. The reason given was that "most" bank accounts have deposits of SGD 20,000 or less. I hate it when the scholars use statistics to implement policies. How in the world we hope to aspire to be a financial hub is beyond explanation.
In the meantime MAS sees it fit to only apply guarantees of SGD 20,000 for each account. The reason given was that "most" bank accounts have deposits of SGD 20,000 or less. I hate it when the scholars use statistics to implement policies. How in the world we hope to aspire to be a financial hub is beyond explanation.