Weekly information of banking activities (from January 15 to January 21, 2009)

The weekly information of banking activities (from January 15 to January 21, 2009) is as follows: 

1.      From January 15 to January 21, 2009, money market remained stable. The deposit balance of credit institutions at the State Bank of Vietnam (SBV) was able to meet reserve requirements and ensured their solvency.

            - The mobilizing and lending rates in VND and USD of commercial banks were stable and quoted as follows:

         The common lending rates in VND of the group of state-owned commercial banks and the group of joint-stock commercial banks ranged from 8.5% p.a to 11% p.a and from 12% p.a to 12.6% p.a respectively.

         2. According to the express reports of credit institutions, by January 20, 2009 the average interest rates in VND of most terms in the inter-bank market tended to slightly decrease, of which the rate of 1 month term had the largest decline of 0.42% p.a; the rate of 3 month term slightly increased as compared to the previous week.

         The average interest rates in USD in the inter-bank market were stable; the average overnight rate of 1 week term unchanged, the rates of 2 week and 6 month terms slightly decreased; while the rates of other terms slightly increasing. The USD interest rates are commonly below 2.5% p.a.

          The average interest rates in the inter-bank market were as follows:

3. The USD/VND exchange rate of commercial banks was respectively stable, commonly at 17,470-17,480 VND/USD. The SBV closely watched the developments in the market, managed the exchange rate flexibly to control trade deficit and stabilize macro-economy.

>   SBV cuts base interest rate (23/01/2009)

>   $2 bank notes hunted for Tet presents (23/01/2009)

>   SBV’s Governor: “I have been bearing big pressure” (23/01/2009)

>   Import tax on petrol reduced by 5 percent (23/01/2009)

>   Sacombank receives two new international awards (22/01/2009)

>   HSBC Vietnam allowed to continue providing derivative products (22/01/2009)

>   SBV calls for inputs for Draft Circular on forex management of foreign investment (22/01/2009)

>   Bonds less attractive this year: Expert (22/01/2009)

>   Banks asked to explain ATM fees (22/01/2009)

>   06/02/2009, record date for bond principal & coupon payment CP1_0104 (22/01/2009)