Shadow Banking in Singapore

Singapore Journal of Legal Studies, Mar 17, pp 18-52

35 Pages Posted: 14 Dec 2018

See all articles by Christian Hofmann

Christian Hofmann

National University of Singapore (NUS) - Faculty of Law

Date Written: March 31, 2017

Abstract

Shadow banking is a phenomenon of global concern because it entails risks for financial stability that need to be adequately addressed by regulation. Easier said than done, one could object, because it is a tricky task for regulators to respond appropriately. Singapore, one of the largest financial centres in Asia and the world, is a hub for financial intermediaries that are considered shadow banks. Data transmitted by Singapore to the Financial Stability Board provides the basis for this analysis of the relevance of shadow banks and risk-containing regulation applicable to them—the first of its kind for Singapore. In line with global efforts to curb risks for financial stability while avoiding excessive limitations on useful financial services, the article points out areas in which particular vigilance is indicated and suggests changes to existing regulation.

Suggested Citation

Hofmann, Christian, Shadow Banking in Singapore (March 31, 2017). Singapore Journal of Legal Studies, Mar 17, pp 18-52. Available at SSRN: https://ssrn.com/abstract=3299815

Christian Hofmann (Contact Author)

National University of Singapore (NUS) - Faculty of Law ( email )

469G Bukit Timah Road
Eu Tong Sen Building
Singapore, 259776
Singapore

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