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Weekly Information on Banking Activities (Nov 13 - 18, 2010)
1. Mobilizing and lending rates:
The mobilizing and lending rates were as follows:
- The VND interest rates:
+ The mobilizing rates were almost unchanged as compared to the previous week. The mobilizing rates were commonly quoted at 12% for 1-12 month terms. However, several commercial banks agreed to grant cash bonus or an additional amount to the quoted rate for those deposits of great value, thus making the actual mobilizing rates higher than the quoted mobilizing rates.
+ The lending rates were slightly changed in comparison with the previous week. The lending rates were commonly 12-12.75% p.a for agricultural and rural development, export and small and medium enterprises, 13-17% p.a for other productive and business enterprises, and 18-20% p.a for the non-productive sector.
- The USD interest rates :
+ The mobilizing rates of individuals were at 0.2-0.5% p.a for demand term, 3.5-4.2% p.a for below 1 month term, 3.7-5.2% p.a for 3-12 month terms and 4.2-5.6% p.a for over 12 month terms. The mobilizing rate of economic institutions was commonly 1% p.a.
+ The lending rates were commonly 5.5-6.5% p.a for short terms and 6-8% p.a for medium and long terms.
The specific mobilizing and lending rates were as follows:
|
The quoted mobilizing rates |
Currency |
Demand
(% p.a.) |
Below 1month
(%p.a) |
3 months
(% p.a.) |
6 months
(% p.a.) |
12 months
(% p.a.) |
|
Group of state- owned commercial banks |
VND |
2.4–3.0 |
7.5-8.0 |
12.0 |
12.0 |
12.0 |
|
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 |
3.5-3.7 |
3.7-3.9 |
4.0-4.5 |
4.4-4.8 |
|
Group of joint-stock commercial banks |
VND |
2.4-4.2 |
10-11.2 |
11.9-12 |
11.9-12 |
11.9-12 |
|
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 |
3.6-4.2 |
3.9-5.0 |
4.0-5.1 |
4.2-5.2 |
|
The average lending rates |
Currency |
Short term (% p.a.) |
Medium & long terms (% p.a.) |
|
Group of state- owned commercial banks |
- Ordinary loans
- Loans for agricultural production and export, production expense for small and medium enterprises |
12.75-14.2
12-12.75 |
14.5-15.5
13-14 |
|
USD |
5.5-6.0 |
6.0-7.0 |
|
Group of joint-stock commercial banks |
- Ordinary loans
- Loans for agricultural production and export, production expense for small and medium enterprises |
13.5-15
13-14 |
15-17
14-15 |
|
USD |
5.5-6.5 |
6.5-8.0 |
. Transactions turnover:
The total amount of transactions in the inter - bank market reached about VND 132,634 billion and USD 3,061 million, i.e. VND 33,159 billion and USD 765 million per day averagely.
Most transactions in VND were short terms (Overnight and 1 week), accounting for 67% of the total amount of transactions in VND. The amount of overnight transactions in USD accounted for 86% of the total amount of USD transactions.
3. The average inter - bank interest rates:
The interest rates by November 16 were as follows:
- For the rates in VND, the average VND interbank interest rate for most terms increased, of which the rate for 1, 3, and 12 month terms remarkably rose by 0.83-1.08 percentage points p.a. The rate for overnight term decreased by 0.23 percentage point p.a, standing at 11.96% p.a.
The rates for 1-12 month terms ranged between 13 – 13.5% p.a. There was no transaction for 6 month term. There were a few transactions for 12 month term.
For the rates in USD, the average interest rates in USD increased for most terms; of which the overnight rate slightly rose. The rates for 1 week – 3 month terms increased by 0.12 – 0.24 percentage points p.a. The rate for 3 month term decreased by 1.03 percentage point p.a. There was no transaction for demand and 12 month terms. There were a few transactions for over 6 months terms.
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 |
11.96 |
13.05 |
12.93 |
13.29 |
13.56 |
11.60 (*) |
12.90 |
1.96 |
|
USD |
0.51 |
0.72 |
0.90 |
0.86 |
1.63 |
0.67 |
- |
- |
(*) the reference rate of statistical report)
4. Other activities
In the context of the complex developments of the gold price in international markets and high increase of the domestic gold price, the SBV allowed several commercial banks and gold trading enterprises to import gold in order to stabilize the domestic gold market.
In another action to implement the Government’s directive of stabilizing the foreign exchange market, and contributing to limiting trade deficit, the SBV sold foreign currencies to meet the demand for importation of essential commodities.
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