Vietnam central bank net withdraws vnd843bln on omo during oct 31-nov 3

The State Bank of Vietnam, the country’s central bank, net withdrew VND843 billion through market operations from Oct 31 to Nov 3, in which it pumped VND27.378 trillion and withdrew VND28.221 trillion.

The State Bank of Vietnam, the country’s central bank, net withdrew VND843 billion through market operations from Oct 31 to Nov 3, in which it pumped VND27.378 trillion and withdrew VND28.221 trillion, the local newswire NDHMoney reported, citing Reuters’ data.

The central bank continued to open two OMO sessions, of which the morning and afternoon sessions were for 14-day and 7-day windows, respectively.

Last week, the central bank also net withdrew VND14.959 trillion on OMO, in which it pumped VND11.212 trillion, down 65% from last week’s and withdrew VND26.171 trillion.

The average interbank interest rates (VNIBOR) on Nov 3 were on the rise again with 14% p.a. for overnight and 17% for 1-week and 19% for 1-month terms, the central bank’s data showed.

The SBV said that it would provide conditional refinancing loans to support liquidity for small banks, provided that they committed to reduce their outstanding credits and promptly collect loans that are suspected to be bad debts.

Source StoxPlus

Tags: Vietnam banking industry, Vietnam finance, Vietnam financial

Posted by VBN on Nov 5 2011. Filed under Banking-Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry