Weekly Banking information (from January 29 to February 4, 2009)

The weekly banking information (from January 29 to February 4, 2009) is as follows:

1. To implement Resolution No 30/2008/NQ-CP of the Government dated December 11, 2008 on urgent measures to promote business, production and goods distribution, to actively prevent the economic downturn, to stabilize economic growth, and to secure social protection, the SBV Governor issued Circular 02/ 2008/CT-NHNN to provide guidelines on interest rate assistance for bank clients.

2. In the week, the money market remained stable. The deposit balance of credit institutions at the State Bank of Vietnam (SBV) was able to meet reserve requirements and ensure their solvency.
The mobilizing and lending rates in VND and USD of commercial banks slightly reduced. The mobilizing rates would be 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% to 10.0% p.a and 10.5% p.a respectively

3. According to the express reports of credit institutions, by February 3, 2009 the average interest rates in VND of most terms in the inter-bank market tended to increase, of which the rate of 2 week term had the largest increace of 1.65% p.a; the rates of other terms slightly increased by 0.68 % p.a to 1.27% p.a.  All transaction was short terms, no transaction of the term of 12 months initiated.

The average interest rates in USD in the inter-bank market were on slight downturn trend for short terms transactions including overnight, 1 week and 3 weeks; and were on upward trend for longer terms including 2 weeks, 1 and 6 months; no transaction of 12 month term. The interest rates in USD were commonly below 2.3% p.a.

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

                                                                                                                                                            (% p.a )

sbv

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