MAS welcomes insurers' moves to support customers impacted by coronavirus

Pedro Gonçalves
clock • 1 min read

The Monetary Authority of Singapore (MAS) has welcomed moves from insurers and banks that aim to give support to their customers that are affected about by the 2019 novel coronavirus (COVID-19) outbreak. The support announced by banks thus far include moratoriums on repayments for affected corporate and individual customers, extension of payment terms for trade finance facilities, and additional financing for working capital. The measures are in line with guidelines on corporate debt restructuring by the Association of Banks in Singapore (ABS). "MAS supports these efforts by financial...

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