Dinar Daily
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Latest topics
» Deadly stampede could affect Iraq’s World Cup hopes 1/19/23
Vietnam central bank says cutting lending rates not optional  I_icon_minitimeYesterday at 6:02 am by Ditartyn

» Dave Schmidt - Zim Notes for Purchase (NOT PHYSICAL NOTES)
Vietnam central bank says cutting lending rates not optional  I_icon_minitimeSat Mar 23, 2024 9:25 am by swizzlestick

» ZIGPLACE
Vietnam central bank says cutting lending rates not optional  I_icon_minitimeWed Mar 20, 2024 6:29 am by Zig

» CBD Vape Cartridges
Vietnam central bank says cutting lending rates not optional  I_icon_minitimeThu Mar 07, 2024 2:10 pm by Arendac

» Classic Tony is back
Vietnam central bank says cutting lending rates not optional  I_icon_minitimeTue Mar 05, 2024 2:53 pm by Mission1st

» THE MUSINGS OF A MADMAN
Vietnam central bank says cutting lending rates not optional  I_icon_minitimeMon Mar 04, 2024 11:40 am by Arendac

»  Minister of Transport: We do not have authority over any airport in Iraq
Vietnam central bank says cutting lending rates not optional  I_icon_minitimeMon Mar 04, 2024 11:40 am by Verina

» Did Okie Die?
Vietnam central bank says cutting lending rates not optional  I_icon_minitimeMon Mar 04, 2024 11:34 am by Arendac

» Hello all, I’m new
Vietnam central bank says cutting lending rates not optional  I_icon_minitimeWed Jan 31, 2024 8:46 pm by Jonny_5

» The Renfrows: Prophets for Profits, Happy Anniversary!
Vietnam central bank says cutting lending rates not optional  I_icon_minitimeWed Jan 31, 2024 6:46 pm by Mission1st

» What Happens when Cancer is treated with Cannabis? VIDEO
Vietnam central bank says cutting lending rates not optional  I_icon_minitimeWed Jan 31, 2024 8:58 am by MadisonParrish

» An Awesome talk between Tucker and Russell Brand
Vietnam central bank says cutting lending rates not optional  I_icon_minitimeWed Jan 31, 2024 12:16 am by kenlej

» Trafficking in children
Vietnam central bank says cutting lending rates not optional  I_icon_minitimeMon Jan 29, 2024 7:43 pm by kenlej

» The second American Revolution has begun, God Bless Texas
Vietnam central bank says cutting lending rates not optional  I_icon_minitimeMon Jan 29, 2024 6:13 pm by kenlej

» The Global Currency Reset Evolution Event Will Begin With Gold, Zimbabwe ZWR Old Bank Notes
Vietnam central bank says cutting lending rates not optional  I_icon_minitimeSun Jan 28, 2024 3:28 pm by Mission1st

» Tucker talking Canada
Vietnam central bank says cutting lending rates not optional  I_icon_minitimeWed Jan 24, 2024 6:50 pm by kenlej

» Almost to the end The goodguys are winning
Vietnam central bank says cutting lending rates not optional  I_icon_minitimeMon Jan 22, 2024 9:03 pm by kenlej

» Dinar Daily Facebook Page
Vietnam central bank says cutting lending rates not optional  I_icon_minitimeMon Jan 22, 2024 3:34 pm by Ponee

» The Fundamentals of Finance and Pimpy Live
Vietnam central bank says cutting lending rates not optional  I_icon_minitimeThu Jan 18, 2024 7:17 am by Dinarhater

» Why Won't the Iraqi Dinar Scam Die?
Vietnam central bank says cutting lending rates not optional  I_icon_minitimeWed Jan 17, 2024 5:19 pm by RamblerNash

Vietnam central bank says cutting lending rates not optional

Go down

Vietnam central bank says cutting lending rates not optional  Empty Vietnam central bank says cutting lending rates not optional

Post by 1alaskan Mon Jul 23, 2012 12:02 pm

Vietnam central bank says cutting lending rates not optional

The State Bank of Vietnam will make sure that commercial lenders take its order seriously and cut lending rates on existing loans to below 15 percent, deputy governor Le Minh Hung said.

On July 7, the central bank asked commercial banks to reduce interest rates on outstanding loans and help struggling businesses. It said lenders must cut rates on existing loans to companies to below 15 percent.

Hung told Thanh Nien that many large banks have already lowered rates since mid-July but some others have not implemented the policy yet.

The central bank will deal with those who do not comply with its request, Hung said, asserting that "tough measures" would be taken "if necessary." Lenders will also be required to report their total loans at rates above 15 percent, he added.

Many businesses have complained that many banks have refused to cut rates. Some have offered a reduction in borrowing costs for only well-performing companies.

Hung said even though banks need to make decisions based on their own financial conditions, only supporting healthy companies "is not right"

Banks have to realize that this is the perfect time to lower rates on existing loans, he said, noting that keeping rates too high for companies that are already struggling to repay loans "will not help either of the two sides."

Vo Tri Thanh, deputy head of the Central Institute for Economic Management, a government think-tank, said there will be some sacrifice involved, but banks have to accept the fact that they need to bring interest rates down for long-term benefits.

On Friday, news website VnExpress cited State Bank Governor Nguyen Van Binh as saying that while banks will have to try their best to rescue businesses, they will not do so at all costs.
“Companies that, if rescued, would not have a chance of growing in the future, should be eliminated,” he said.

http://www.thanhniennews.com/index/pages/20120719-vietnam-central-bank-says-cutting-lending-rates-not-optional.aspx

*****************
Being defeated is often a temporary condition. Giving up is what makes it permanent.
Marilyn Vos Savant


Yesterday would have been better, but today is a good day

Remember as always, JMHO
Rantings from just north of sixty

1alaskan
Elite Member
Elite Member

Posts : 4668
Join date : 2011-06-21
Age : 41
Location : Planet far far away

Back to top Go down

Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum