Fitch says recent developments in US will not cause major shifts in US monetary policy

Fitch ratings agency:

• our base case is that recent developments in the US will not cause major shifts in US monetary policy

• APAC banks resilient to risks highlighted by us bank failures
• Direct exposures to silicon valley bank (SVB) and signature bank among Fitch ratings' portfolio of rated banks in APAC appear limited
• Believe risk of deposit volatility Volatility In terms of trading, volatility refers to the amount of change in the rate of an index or asset, such as forex, commodities, stocks, over a given time period. Trading volatility can be a means of describing an instrument’s fluctuation. For example, a highly volatile stock equates to large fluctuations in price, whereas a low volatile stock equates to tepid fluctuations in price. Overall, volatility is an important statistical indicator used by many parties, including financial traders, analysts, In terms of trading, volatility refers to the amount of change in the rate of an index or asset, such as forex, commodities, stocks, over a given time period. Trading volatility can be a means of describing an instrument’s fluctuation. For example, a highly volatile stock equates to large fluctuations in price, whereas a low volatile stock equates to tepid fluctuations in price. Overall, volatility is an important statistical indicator used by many parties, including financial traders, analysts, Read this Term could be significant for digital banks in APAC
• Generally view securities portfolio valuation risks as manageable for APAC banks, although exposures tend to be greatest in India and Japan
• Expect the Bank of Japan's yield Yield A yield represents the earnings generated by an investment or security over a certain time period. Yields are typically displayed in percentage terms and are in the form of interest or dividends received from it.These figures do not include the price variations, which separates it from the total return. Consequently, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as A yield represents the earnings generated by an investment or security over a certain time period. Yields are typically displayed in percentage terms and are in the form of interest or dividends received from it.These figures do not include the price variations, which separates it from the total return. Consequently, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as Read this Term cap to be raised by 50bp later this year, we do not see a sharp rise in JGB yields
• Direct exposures among Fitch-rated banks in APAC to SVB and Signature that we are aware of are not material to credit profiles

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