In a parliamentary response on private credit risks, the Monetary Authority of Singapore (MAS) said Singapore financial institutions have very small exposure to private credit, amid concerns referenced in the question about rising US private credit defaults and supervisory reviews overseas. MAS said it regularly monitors the risk exposures of Singapore financial institutions as part of its supervisory oversight, including engaging them on stress testing their balance sheets using global financial stress scenarios such as defaults on private credit assets.
Monetary Authority of Singapore 2026-04-07
Monetary Authority of Singapore says Singapore financial institutions have very small private credit exposure and includes private credit default scenarios in supervisory stress testing
The Monetary Authority of Singapore stated that Singapore financial institutions have very small exposure to private credit, in response to parliamentary concerns about rising United States private credit defaults and overseas supervisory reviews. MAS added that it regularly monitors these risk exposures and engages institutions on stress testing their balance sheets using global financial stress scenarios, including defaults on private credit assets.