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 Vietnam May Apply Lending Rate Cap for More Sectors

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1alaskan
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PostSubject: Vietnam May Apply Lending Rate Cap for More Sectors   Wed May 16, 2012 4:57 pm

Vietnam May Apply Lending Rate Cap for More Sectors

VietFinanceNews.com - The State Bank of Vietnam (SBV) may impose lending interest rate ceiling for more sectors as part of its monetary policy management orientation in the later months of 2012.

Specifically, the monetary authority will study to cap interest rate spreads for lending to production and non-prioritized sectors; a move aims to reduce funding costs for borrowers. It’s likely that the SBV may apply a margin wider than 3% for credit institutions to provide loans to different groups of funds seekers more flexibly.

Earlier, the central bank announced to cap short-term lending interest rates at 15% per annum from May 8 for four sectors, including agriculture, exports, small and medium enterprises (SMEs) and supporting industries.

The central bank reiterated that it would cut rates by 1% every quarter to bring dong deposit rates to about 9-10% by the end of 2012.

http://www.vietfinancenews.com/2012/05/vietnam-may-apply-lending-rate-cap-for.html

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