C/9 double penalty Bank reserve requirement
To 30/6, of 9 institutions and no time to withdraw the proportion of credit Africa produced about 22% milestone, means reserve States this July fined double.
According to VNA, State Bank Governor Nguyen Van Giau said to date 30/6/2011 still 9 credit institutions have the proportion of outstanding credit Africa produce over 22%.
the provisions in Directive No. 1 of the State Bank, 9 of this user will be fine by limiting business expansion, double the rate of obligatory reserves.
so, with the current level, 9 of this credit institution subject to reserve requirement rate, at least in the States this July, for deposit VND from non-term to less than 12 months is 6%, the longer term is 2%; corresponding foreign currency of up to 14% and 10%.
State Bank does not publish a particular identity group penalty mentioned above to calculate the scale of the current financing and influence being double the reserve ratio for the system as a whole.
However, the implementation rate 22% still continue, and if this 7 month membership would have retreated up the required reserve ratio for the next 8 months will be returned as old.
on the impact of this event for the liquidity of the system, as mentioned above, the level depending on the scale of the Member. Also according to reports of a number of investment institutions, in the first week of July, the liquidity of the banking system is still quite abundant. The interest rate on the interbank market continued to stabilize, interest rates overnight ranged from 11.5% to 12.5% per year.
On the open market (OMO), net pumping week 1,000 billion from 4-7/8, earlier this week the State Bank continued to attract substantial net. Altogether three days earlier this week, net capital intake-over the OMO is 4,000 billion.
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