Chart of the Day: Housing loans held steady at 0.8% amidst new cooling measures

LDR was also stable at 100%.

According to Barclays, housing loan growth was steady at 0.8% m/m and 5.2% ytd.

Barclays said that in late June, the MAS fine tuned rules on housing loan-to-value limits to prevent circumvention of tighter LTV limit on second and subsequent housing loans and introduced a 60% Total Debt Servicing Ratio (TDSR) cap, to further strengthen credit underwriting standards.

"The loans to deposits ratio was stable at 100% with loans and deposits growth 0.3-0.4% m/m. Despite the elevated tightness in system liquidity relative to history, we believe Singapore is still one of the most resilient markets in EM Asia to liquidity outflows," Barclays said.

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