The last six months have probably been one of the most stressful periods for businesses. Banks, being the pillar of the economy, have also suffered in tandem. With Singapore witnessing its worst economic contraction since independence, at negative 13.2% for the second quarter, many businesses are in no shape or mood to borrow. Globally, interest rates have been slashed to stimulate economies. For banks, this trend is yet another negative as higher rates allow them to obtain a better net interest margin (NIM). The local banks, namely DBS Group Holdings Ltd (SGX: D05), United Overseas Bank Limited (SGX: U11), or UOB, and OCBC Ltd (SGX: O39), are also facing strong headwinds. Long known for their ability to pay consistent dividends, a surprise announcement by the Monetary Authority of Singapore (MAS) has called on the banks to cap their dividend payments this year to just 60% of what was paid out last year....