Vietnam SBV: Banks to Complete Balance Sheets for Subsidized Loans Before end-2009
The State Bank of Vietnam, the country’s central bank, issued on December 22, 2009 a circular to request local banks to complete their balance sheets for subsidized loans before the year’s end.
The monetary department is asked to receive and appraise the balance sheets and submit them to the central bank for approval.
As of December 10, local banks and financial companies phased out government-support interest loans to VND414.828 trilion (US$22.448 billion) under the subsidized lending program launched in early February, 2009. (SBV)
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