MAS said in a statement that JPMorgan Chase did not have adequate processes and controls to ensure that relationship managers adhered to pre-agreed spreads with clients
Federal Reserve last month delivered a larger-than-usual half-percentage-point reduction, while the European Central Bank is tipped to cut rates next week for the third time this year
Singapore's central bank urged banks to keep their finances strong and resilient to "shocks", in case of an abrupt rise in unemployment and business insolvencies due to pandemic
