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sibor is getting phased out!


Wind30
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On 8/2/2020 at 3:36 PM, Lightbringer said:

Looks like you're the same old insecure, childish prick who constantly seeks validation by making every issue about yourself or finding an opportunity to hint about how wealthy you are and untouched by the worries of the "common folks".

We get it. You've got money, lots of it. You've done a good job reminding everybody about it conspicuously year after year. I'm just surprised you're still going at it after so long - looks like the self-validation you are seeking isn't so readily coming eh?

However, the way you constantly couch value in terms of money, and brag about how "aiya, pay a few thousands more only, no big deal" it is to you, simply reveals your own insecurities, inability to empathise, and a general ugliness in your character.

Just to help you out here - the discussion here is about consumer rights, ethics and policy execution. It was never about affordability, stress from potentially higher payments or overextending, or all that self-projection you've been throwing around. It is about how policy execution has a wide-ranging impact on many consumers. It is about understanding that everybody have different circumstances and some are less lucky or fortunate as others, and they deserve protection from unfair business practices instead of suffering from the contempt of more fortunate people like yourself.

But all these just flew over your head because you just saw another opportunity to rub people noses into how all these are "silly worries" which only affects people who are not as wealthy or cash rich as you, right? And sneering and being contemptful to those who you deem to be less worthy because they have less resources than you and have made some suboptimal decisions and hence could be more negatively affected by certain changes, make you feel better about your lot in life doesn't it?

Do me a favour, don't even bother engaging me with your trolling because I really have no interest in how rich you are.... I don't know you, you don't know me, yet you seem to desperate to remind people whom you dont know and neither know you, about your wealth. I hope you find the peace you seek and the self-validation you crave one day. Meanwhile, you should spend your time chattering about Rolexs, Cigars and other wealth-signalling topics with your like-minded kakis, and leave the discussion of real-world issues to those who are genuinely interested in the topic at hand, alright? 

Run along now.

best article in a long, long time :a-m1212:

 

 

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5 hours ago, ToyotaShuttle said:

I think your deposits with UOB are just one aspect of their total cost of funds. SIBOR is part of it just like those people who don't bother with their cash sitting in a normal bank account getting less than 0.1% when FD was giving 2%.

Ultimately, housing loans are also not the only the the banks do with their deposits. I reckon in Singapore's context where the max loan amount is tightly controlled and where everyone has to put a min 20% down, the default and non-recoverable rate has been relatively low and will remain low during a crisis.

Wow... An expert that I can learn from. 

Perhaps you can enlighten me. if sibor is cost of fund, why are banks like Maybank, CIMB, BOC and SCB offering such higher FD and saving account rates if they can just borrow Interbank at 0.2%?  

I observed that the sub 1% spread was introduced when sibor was higher than 1% last year but that has pretty much disappeared after sibor fell to current level. So all in of less than 1% may not be profitable for even DBS. Just a guess. Perhaps you can share more.

 

 

 

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