Agriculture

Singapore Economy: State of Banks in Singapore   by Property Buyer Mortgage Consultants

Singapore Economic Forecast by Economists

The report paints a not so rosy picture of the economy. Analysts are saying

now the economy is expected to contract by 2 to 5%. Despite being not

affected by the sub-prime bad-debts, the asset write-downs in the USA and

throughout the world is affecting the bank’s capital adequacy ratio.

There was also danger from the new US administration to require banks to

“mark to market” their other not-so-liquid assets rather than the current

“mark-to-model” valuation.

Such asset write-offs or write downs will basically render the banks

themselves in negative equity. Banks need to maintain a certain capital

adequacy ratio mandated by the banking authorities in each of their

countries that they operate.

Most banks are struggling to meet that. Some have hidden deferred

tax-benefits which they mark as “profits” or “assets”. Some of the assets are

really looking doubtful.

All in all, banks are in no mood to lend. Unless the US Federal Reserve

steps in and mop up toxic assets, buy up shares to support the market so

that the market stops falling. Then perhaps set up a bank that lends to small

and medium enterprises and quick, else demand will further fall.

If the US can have a stock-pile of Crude Oil inventory, a stock-pile of

agricultural products, why not a Stock-pile of houses, loans and Shares!

There is just too much slack in the market now, pumping liquidity in the

market may not help that much as it is a demand issue. Perhaps by buying

up the shares across the NYSE, NASDAQ, the share prices will be

supported, confidence will come back. The asset prices will stabilize.

Many banks in Singapore though less severe, are not spared. The 1st wave

is in the reduction of demand from exports, followed by job losses.

Now we need the government to go all out to save those who are out of jobs

and quickly pump money in the form of demand into the market that benefits

the various industry sectors.

This is the best time for the government to intervene and create real jobs.

And they can get the projects done up cheaply too.

Home owners who are into expensive interest rates will not be able to

refinance later as valuation falls as they will be required to top-up the equity

if they refinance.

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ABOUT US

About the Author

www.PropertyBuyer.com.sg is a Research Focused Mortgage Advisory that helps people to find Home Loans or Refinancing Loans. We do NOT simply emphasize cheap loans, but rather we use a balanced Risk versus Benefit approach and match that with the Home Owner’s financial circumstances to create the best fit and customized home loan.
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This entry was posted on Tuesday, January 17th, 2012 at 11:22 am and is filed under Agriculture. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.