Financial Stability Review November 2024

Monetary Authority of Singapore Financial Stability Review (Nov 27, 2024) assesses risks and vulnerabilities from Singapore and global developments. Key themes: a volatile global macrofinancial environment driven by geopolitical conflicts, trade tensions and elevated debt across advanced and emerging economies; banks exhibiting strong capital positions and low non-performing loan ratios, with stress tests showing D-SIBs can withstand severe macroeconomic shocks; and growing relevance of emerging technologies — virtual assets, quantum technology and artificial intelligence — in financial markets. The review includes two special features: Asian Capital Flows and the Global Financial Cycle, and Expanding the Toolkit for Macroprudential Surveillance through advanced data analytics and stress-testing models. Direct read-out for SEA-headquartered FI boards calibrating 2025 risk appetite.