Photographer: Nicky Loh/Bloomberg

Bonuses Paid to Singapore Banks for Selling Risky Debt Under Scrutiny

  • Rebates of as much as 1 percent offered for unrated bonds
  • Private Bank Code of Conduct being reviewed on disclosures

Singapore’s private banks are coming under scrutiny for earning bonuses by selling risky debt, as the city sees an unprecedented wave of defaults. The central bank says an industry group is reviewing the practice.

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