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Weekly Information on Banking Activities (August 13 - 19, 2010)
1.Mobilizing rates:
Several joint-stock commercial banks, namely the Mekong Development Joint-Stock Commercial Bank, the Hanoi Building Joint-Stock Commercial Bank, and the Maritime Joint –Stock Commercial Bank, quoted the mobilizing rates higher than the agreed rate among members of the Vietnam Banks Association (At 11.25%-11.3% p.a.) the previous week, had reduced the rates to the highest level of 11.2% p.a.
The mobilizing rates in USD were stable as compared to the previous week. However, the Export-Import Joint-Stock Commercial Bank increased the mobilizing rate by 0.1-0.2 percentage point p.a in line with the market rates.
The specific mobilizing rates were as follows:
|
The mobilizing rates
|
Currency |
Demand
(% p.a.) |
3 months
(% p.a.) |
6 months
(% p.a.) |
12 months
(% p.a.) |
Above
12 months
(% p.a.) |
|
Group of state- owned commercial banks |
VND |
2.4–3.0 |
11-11.2 |
11-11.2 |
11-11.2 |
10.5-11.2 |
|
USD (Applicable to economic institutions) |
0.2-0.3 |
1.0 |
1.0 |
1.0 |
1.0 |
|
USD (Applicable to individuals) |
0.2-0.3 |
3.5-3.8 |
3.5-3.8 |
3.5-4.2 |
3.8-4.2 |
|
Group of joint-stock commercial banks |
VND |
2.4-4.2 |
11-11.2 |
11-11.2 |
11-11.2 |
10.5-11.2 |
|
USD (Applicable to economic institutions) |
0.2-0.5 |
1.0 |
1.0 |
1.0 |
1.0 |
|
USD (Applicable to individuals) |
0.25-1.0 |
3.6-4.5 |
3.6-4.7 |
4.0-5.0 |
4.2-5.0 |
2. Lending rates
The lending rates in VND and USD were unchanged as compared to the previous week.
The specific lending rates in VND and USD were as follows:
|
The average lending rates |
Currency |
Short term
(% p.a.) |
Medium & long terms
(% p.a.) |
|
Group of state- owned commercial banks |
VND
|
Ordinary loans |
13.0 – 14.0 |
13.5 – 14.5 |
|
Loans for agricultural production and export |
12 – 12.5 |
13 – 13.5 |
|
USD |
|
5.5-6.0 |
6.0-7.0 |
|
Group of joint-stock commercial banks |
VND
|
Ordinary loans |
14-14.5 |
14.5-15.5 |
|
Loans for agricultural production and export |
12 -13.5 |
13.5-14.5 |
|
USD |
|
6.0-8.0 |
6.5-8.0 |
3. Transactions turnover :
The total amount of transactions in the inter-bank market reached about VND 97,372 billion and USD 1,927 million, i.e. VND 19,474 billion and USD 385 million per day averagely. The amount of transactions in VND decreased by 7,747 billion while the amount of transactions in USD was up by 178 million as compared to the previous week. Most transactions in VND were short terms (Overnight, 1 week and 2 weeks), of which the amount of overnight transactions in VND was 36,027 billion, accounting for 37% of the total amount of transactions in VND. The amount of overnight transactions in USD was 980 million, accounting for 51% of the total amount of USD transactions.
4. Interest rates:
For the rates in VND, the average VND interest rate slightly decreased by 0.04-0.18 percentage points p.a for below 1 month terms. The rate for 12 month term decreased insignificantly. The rate for 3 month, 6 month and demand terms increased by 0.46, 0.52 and 0.06 percentage points respectively as compared to the previous week.
The average overnight interest rate was 6.70% p.a, down by 0.06 percentage point p.a. as compared to the previous week. The rates for short terms (Below 3 months) ranged between 6.70% - 8.67% p.a. The rates for over 3 month terms were below 10% p.a, however, the rate for 6 month term was over 11.4% p.a. The highest lending rate was 12% p.a. while the lowest rate was 6% p.a. (Excluding the demand rate).
For the rates in USD, the average interest rates in USD were on a upward trend for most terms (Only the rates for 1 and 12 month terms decreased insignificantly) of which the rate of 3 month term experienced the clearest increase, up to 2.64% p.a from 1.23% p.a; the rate of 6 month term remarkably increased, up to 2% p.a from 1.68% p.a; and other rates increased insignificantly.
The average overnight interest rate was 0.36% p.a; the other rates ranged between 0.63% - 2.64%. There was no transaction in USD for demand loans.
The average interest rates in the inter-bank market were as follows (% p.a.):
|
Term |
Overnight |
1 week |
2 weeks |
1 month |
3 months |
6 months |
12 months |
Demand |
|
VND |
6.76 |
7.26 |
7.65 |
8.86 |
9.53 |
10.97 |
9.92 |
2.13 |
|
USD |
0.36 |
0.63 |
0.79 |
0.94 |
2.64 |
2.00 |
2.00 |
- |
5. Exchange rate
The SBV made an announcement on August 17 to adjust the average VND/USD interbank exchange rate to 18,932 from 18,544 with the aim of contributing to trade deficit control. This new exchange rate started to be applicable on August 18, 2010 with the trading band being unchanged at ±3%.
sbv
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