Skip to main content

South Korean banks' overseas borrowing conditions improve

South Korean banks' overseas borrowing conditions improved in January compared with about a year ago as the portion of short-term foreign borrowing declined sharply due to growing foreign-currency deposits, the financial regulator said Monday.

The outstanding amount of foreign-currency debts held by 12 local banks reached US$ 116.4 billion at the end of January, sharply down $ 9.9 billion from $ 126.3 billion at the end of 2011, according to the Financial Supervisory Service (FSS).

The sharp fall in banks' foreign-currency debts came as their short-term borrowing decreased on the back of a rise in foreign-currency deposits, with which banks were able to make a lot of short-term debt repayments, the FSS said.

The portion of their short-term foreign debts thus fell to the lowest level since 2008, coming in at 18.1 percent as of end-January, from 50.1 percent five years ago, it said.

Banks saw their foreign-currency deposits increase by $ 12.7 billion to $ 68.3 billion over the cited 13 months, as borrowing costs have dropped on the back of Korea's financial soundness.

The yield for banks' short-term borrowing in foreign-currencies dipped 33.6 basis points to 3.2 basis points in January from late 2011, with that of long-term borrowing falling 86 basis points to 88 basis points in the same period. A basis point is 0.01 percentage point.

The outstanding amount of short-term debts stood at $ 21.1 billion won in January, compared with $ 33.2 billion at the end of 2011.

Comments

Post a Comment

Popular posts from this blog

How to Maintain Good Posture

SOME people walk gracefully while others slump.      You know something is wrong.When you  see a frumpy figure gazing  back at you in the mirror.     Good posture can change all   that. A woman striding confidently into a room with her shoulders  straight  and head held high has the ability to break hearts. A man standing straight-backed, with just the right tilt to his square chin, will stand out from the rest of the slumped party-goers.     Good posture is easy to attain.   The steps to proper posture are simple, and they begin with the stomach. The belly button should be pulled back into the spine,  sucked up into the lungs. The ribs, in turn, should be held lightly under a buoyant chest and shoulders that are back and relaxed. The collarbones should be down, while the chin is slightly lifted, creating long, swan-like neck.     The  feeling is of being pulled upward from a string attached to the top of your head, with the entire spine stretched and extended. And on top of this b...
Post a Comment
Read more

Panglao Island Environmental Problems

By Romy Teruel One environmental and tourism issue that will keep on cropping up unless decisive actions are done is the issue of easement along beaches as prescribed by the Water Code of the Philippines.  This has cropped up before and now it is here again.    The conference that Gov. Erico B. Aumentado held with the hotel and resort owners of Panglao and Dauis last Friday is an example of laws wanting in implementation. While the laws are clear and guidelines are prescribed, willing compliance has remained a problem.  The Water Code of the Philippines prescribes a 20-meter easement from the high water mark on the beach towards inland where no permanent structure can be constructed whatsoever.  We need not send experts however to know that compliance is more in the breach than observance.  This prompts observers to ask "What happened to Bohol's thrust on eco-tourism and environmental conservation and protection?"  And this is usually followed by "They are killing...
Post a Comment
Read more

Walk-out staged by members of the minority bloc in the Sangguniang Panlungsod

Sunday Post Editorial: The walk-out staged by members of the minority bloc in the Sangguniang Panlungsod Friday brings the city council to a point of no return. It now hangs in the balance that may not hold long enough for both ends of the political spectrum.   This is not about the legitimacy or lack of it of the walk-out. There is an overdose on the pros and cons of the act. It was a shameful act or an honorable thing to do depending on one's political orientation. Of course, the minority bloc should drop all pretensions that it was a walk-out. There is no doubt that it was and only those who stand to benefit from it would fail to see it for what it is. It is not so much because one of those from the minority was signaling their leader to bang the gavel when the deliberations started to heat up. It was their refusal to return to the session hall when the majority stood pat that gave their script away. So much for that then. Which lead...
Post a Comment
Read more