Credit Organizations Buy Up US$1.3 Bln Compulsory T-Bills
Commercial banks in Hanoi and Ho Chi Minh City bought up the compulsory treasury bills valued at VND20.3 trillion (US$1.3 billion) in the morning Mar 17 as required by the State Bank of Vietnam (SBV).
The purchases of T-bills took place quickly because 41 credit organizations, which are asked to buy the bills, have had time for preparation, the SBV said.
The compulsory treasury bills will not put big impacts on domestic currency dong capital of banks in the coming days, the central bank said, indicating that deposit and lending interest rates in local banks remained stable March 17.
At present, overnight interest rate in the inter-bank market is between 7 per cent and 8 per cent a year. The rate for one week ranged between 9 per cent and 10 per cent a year and for one month from 12 per cent to 14 per cent a year.
The SBV said it is closely monitoring operations of local banks after the t-bill purchase. (VietNamnet)
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