Wednesday, 29/08/2012 13:21

SBV posts 2.611tr dong net withdrawal on OMO on August 28

Data from Reuters showed that the State Bank of Vietnam (SBV) pumped 2.389 trillion dong on open market operations (OMO) on August 28 for 7-day term at the interest rate of 8 percent per annum (p.a.).

 


On August 28, the first loan worth five trillion dong pumped on OMO on August 21 also fell due. Thus, the central bank posted a net withdrawal of 2.611 trillion dong on OMO on August 28.

The money injection of five trillion dong on OMO one week earlier is said to support liquidity for some credit institutions, especially Asia Commercial Bank (ACB) due to negative impacts from the arrest of banking tycoon Nguyen Duc Kien, the founder of ACB, which prompted depositors to en masse withdraw capital from ACB.

The central bank’s net withdrawal move after six days in a row of net injections indicated that liquidity of credit institutions has been stable again.

On August 29, more than 13 trillion dong being pumped by the central bank on OMO in previous weeks is to fall due and the borrowers will have to repay this amount of money to the central bank.

On the interbank market, the interest rate plunged sharply in the first two days of this week whereby overnight and one week terms were lower than a day earlier by 1.08-1.37 percent p.a.

Particularly, the interbank overnight interest rate was only 5.56 percent p.a., down 1.08 percent from a day earlier, one week term was at 6.06 percent p.a., down 1.37 percent on day and one month term dropped 0.66 percent p.a. to 7.88 percent p.a.

VnEconomy
Other News

>   Preferential interest rates offered to home businesses (29/08/2012)

>   Coffee traders to incur personal income tax (29/08/2012)

>   Bank profits dip as credit growth slows (28/08/2012)

>   Gold market sees strong waves, exchange rate fluctuates, stocks tumble (27/08/2012)

>   VietinBank entrusted to serve WB-financed project (27/08/2012)

>   Manulife Vietnam continues strong growth in the second quarter of 2012 (27/08/2012)

>   ACB says depositors are back after Kien’s arrest (25/08/2012)

>   Vietnam c.bank pumps $1.12 bln in 4 days (25/08/2012)

>   Banks to help livestock, fisheries sectors (25/08/2012)

>   SeaBank offers new letter-of-credit service (25/08/2012)

Online Services
iDragon
Place Order

Là giải pháp giao dịch chứng khoán với nhiều tính năng ưu việt và tinh xảo trên nền công nghệ kỹ thuật cao; giao diện thân thiện, dễ sử dụng trên các thiết bị có kết nối Internet...
User manual
Updated version