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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIs artificial intelligence deflationary? DBS Group's chief economist weighs inTaimur Baig from DBS Group on how the development of artificial intelligence would impact productivity growth, labor market and how policymakers should measures inflation.
Organizations: DBS Group's, DBS Group Locations: Taimur Baig
May 5 (Reuters) - The Monetary Authority of Singapore on Friday imposed additional capital requirement on DBS Bank, the banking arm of the country's largest lender DBS Group (DBSM.SI), following the disruption of its banking services in recent months. "Together with the additional capital requirement imposed on DBS in February 2022, this translates to approximately S$1.6 billion ($1.21 billion) in total additional regulatory capital," MAS added. The additional capital requirement for DBS is now a multiple of 1.8 times to its risk weighted assets for operational risk, an increase from the multiple of 1.5 times MAS applied in February 2022 following the November 2021 disruption, according to MAS. MAS has now required a comprehensive review it directed DBS to conduct in March to cover the May incident, MAS said. "The additional capital requirement imposed at this time underscores the seriousness with which MAS treats this matter," she said.
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