Moody’s reviews DBS Bank notes

Moody's Investors Service said it placed the ratings assigned to the subordinated tier 2 point of non-viability securities and related program components of DBS Bank Ltd., DBS Group Holdings Ltd., Oversea-Chinese Banking Corp. Ltd. and United Overseas Bank Ltd. on review for upgrade.

All other ratings and assessments assigned to the financial institutions are unchanged.

The agency said the action is driven by an opinion that the securities will represent a lower credit risk once the Monetary Authority of Singapore introduces the enhanced bank resolution regime.

Specifically, the new regime will reduce the uncertainty associated with timing of the principal write-down of tier 2 point of non-viability securities.

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