For the household sector, housing loans were a potential risk, the central bank said.
"Housing loans account for about three-quarters of total household liabilities, and could be a significant source of risk for households. The credit profile for certain housing loans was a source of concern," it said.
The household debt-to-income ratio has risen from a low of 1.9 times in 2008 during the Lehman crisis to 2.1 times in 2012, and household debt has grown more quickly than household assets since Q2 2011, MAS noted.
The central bank said close monitoring of Singapore's property market is needed, even after a series of policy steps led to a moderation in property market transactions and housing loan growth.
"However, developer bids for land parcels remain firm. The current uncertain environment warrants continued caution and vigilance."
- See more at: http://business.asiaone.com/news/mas-says-banks-need-monitor-exposure-cross-border-lending
Reuters
Tuesday, Dec 03, 2013
Source: AsiaOne