SVB’s collapse has minimal impact on banking system, says Sim FMTNews FMTBusiness
Deputy finance minister Steven Sim says the banking system undergoes periodic tests to ensure it is prepared to face all pressures on the market.
Deputy finance minister Steven Sim said an assessment made by local financial authorities affirmed that the country’s banking system remained competitive and resilient.“Periodic tests are also carried out on the Malaysian banking system to ensure that it is prepared to face all pressures on the market,” said Sim in reply to a question from Syahir Che Sulaiman .
He also wanted to know if the collapse of SVB would have any impact on the overnight policy rate , the ringgit, and inflation rate. “In this aspect, any decision by the MPC is based on price stability in Malaysia and sustainable economic growth.
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