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DBS predicts $10b in covered bond sales by banks in next three years
Tougher times loom in the horizon.
According to a report by Bloomberg, DBS Bank Ltd. (DBS) predicts as much as S$10 billion ($7.9 billion) in covered bond sales by banks in Singapore over the next three years as the world’s most-expensive city prepares for tougher times.
“These instruments provide an alternative funding source that has exhibited stability in times of stress,” Colin Chen, head of structured debt solutions at the unit of Southeast Asia’s biggest lender, said in an interview. “The first Singapore covered bond is likely to be in a foreign currency because there’s already good access to Singapore dollars.”
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