Financial Stability of Singapore

Singapore's central bank is urging households, local companies and the financial sector to stay vigilant and prudent. This is as the COVID-19 pandemic will remain a significant source of uncertainty. In its latest Financial Stability Review, the Monetary Authority of Singapore (MAS) cautioned households against taking up large new loans amid a buoyant property market. MAS warned that although household debt has eased, it remains higher than pre-pandemic levels, driven mainly by housing loans.