During the Singapore recession in 1998, did many bank branches closed down?

Question

give me some evidence like website or maybe just your personal experience or if memory serves u right :)

thanks

Answer 1

Close branches? Ratings downgraded one notch maybe, but closed branches? Not that I can remember. Here's an excerpt from the article supplied at the link.

Singapore banks continue to be among the world's best capitalised. The Monetary Authority of Singapore requires them to maintain a minimum risk weighted capital adequacy ratio of 12% on their Tier 1 capital; the four banks' total capital ratio, computed in accordance with Basle Committee guidelines, ranged from 16% to 21% at the end of 1997.