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  • Editor’s Picks / 15 May 2015 at 3:22 GMT

    Tough credit environment ahead: OCBC

    The boss of Singapore's Oversea-Chinese Banking (OCBC) has expressed caution over the impending credit environment, amid global growth concerns worldwide and a looming transition back to normal interest rates in the US. CNBC's Christine Tan and See Kit Tang write that group CEO Samuel Tsien says "as we go back to a more normal credit environment, it is going to be tougher than last year". A recovery in the US is paving the way for a rise in the country's interest rates, which many analysts expect to take place in September. With the three-month Singapore interbank offered rate, or SIBOR, closely linked to the US Federal funds rate, that rise will likely pull the city-state's lending rates higher as well. The Sibor hit a six-year high of above 1% in March and was at 0.8788 per cent on Thursday.
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