When I first arrived in Singapore, in 1961, the retail banking world was dominated by British-based banks. The leading … players were the Chartered Bank and the Hong Kong and Shanghai Banking Corporation. The local banks known to me were the Chung … Khiaw Bank, the Lee Hwa Bank and the Overseas-Chinese Banking Corporation (“OCBC”). United Overseas Bank — UOB — had not as …

of financial crises, showing that money is taken out of circulation when bank loans are paid back. This key insight is at … economy that cannot generate enough demand for its own goods and services. Financial crises result when bank lending slows … down or comes to a halt – while outstanding bank loans are still due for repayment. The mechanism is discussed in detail …