MAS looking into the way Sibor is set

[tanjm]

Actually, there is very little incentive to manipulate SIBOR simply because it is mostly a bank lending rate and is not used commonly in derivative contracts like LIBOR is. In other words, the LIBOR market is a casino, the SIBOR market isn't.

What may be less known is SOR (Swap Offered Rate). This is used in SGD derivative contracts but is much harder to manipulate because the fixing is based on a very liquid and transparent USDSGD fx forward rate. SOR is also fixed by ABS.

[CityFarmer]

The Sibor is around 0.87% now, still low for property owner...

Sibor jumps 5.6% on jitters ahead of Fed's policy statement
31 Jul 2015 09:00
By Grace Leong

Jitters ahead of the outcome of a key United States Federal Reserve meeting spurred a 5.6 per cent jump in a benchmark Singapore interest rate. The three-month Singapore Interbank Offered Rate (Sibor) - used to price home loans and other consumer lending - surged to 0.87234 per cent yesterday.

On Tuesday, the rate stood at 0.82596 per cent. It has fallen almost 15 per cent from its highest point this year of 1.02705 per cent on April 9.

But it is still nearly double its level at the start of the year.
...
Source: Straits Times

[Big Toe]

As far as banks/loan are concern, the house always win.
When spreads are good, there are some incentives for borrowers.
When spreads are not so good, you have the banks take the incentives away(lawyer's fee) and charge facility fees/etc etc
Good money is made on credit cards as interest rates are very high, default is low plus the transaction fees earn. Our credit card interest is much higher than in U.K and the U.S.

Singapore is a very lucrative market for banks, no doubt.

[BlueKelah]

Trader jailed for 14 years over Libor rate-rigging

Former City trader Tom Hayes has been found guilty at a London court of rigging global Libor interest rates.

He was sentenced to 14 years in prison for conspiracy to defraud.

The 35-year old is the first individual to face a jury trial for manipulating the rate, which is used as a benchmark for trillions of pounds of global borrowing and lending.

Many of the world's leading banks have paid heavy financial penalties for tampering with the key benchmark.

The jury found Hayes guilty on all eight charges of conspiracy to defraud............ Read more here