The Bank of England organised the sale to help curb fallout from the collapse of SVB's parent in the US, the biggest bank failure since the 2008 financial crisis.
“Banks in Singapore are well-capitalised and conduct regular stress tests against interest rate and other risks,” said the Monetary Authority of Singapore.
The rental rooms will be sited at the former Anderson Junior College hostel in Ang Mo Kio. Bathroom and kitchen facilities will be shared, with about 12 people to one bathroom and 24 to a communal kitchen.
“For all the little boys and girls who look like me watching tonight, this is a beacon of hope and possibility,” said the Malaysian actress. “And ladies, don't let anyone tell you you are ever past your prime.”
