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Banks’ overseas borrowing costs fall to 3-year low in February
By Korea HeraldPublished : March 19, 2012 - 20:39
Korean banks’ short-term foreign borrowing costs hit an over 3-year low in February amid eased concerns over the eurozone crisis, the financial watchdog said Monday.
According to the Financial Supervisory Service, the spread on short-term foreign borrowing by 16 local lenders stood at 8.8 basis points, a drop of 23.9 basis points from January. A basis point is 0.01 percentage points.
The February figure is the lowest since the watchdog began to compile related data in 2009.
The spread on mid and long-term foreign borrowing that matures in five years also fell 21 basis points to 246 basis points, according to the FSS.
Their mid and long-term overseas borrowing declined last month as the lenders armed with ample foreign currency liquidity repaid short-term debts, the watchdog said.
The refinancing rate of local banks’ mid and long-term foreign debts came to 267.6 percent at the end of last month, compared with 382.2 percent a month ago, it said.
The comparable figure for their short-term foreign borrowing also declined to 65.1 percent last month from 90.3 percent a month earlier, according to the watchdog.
The rollover rate gauges the percentage of fresh overseas borrowing against foreign debts that mature after one year. A refinancing rate of more than 100 percent indicates local lenders have acquired more fresh foreign loans rather than refinancing their maturing foreign debts.
(Yonhap News)
According to the Financial Supervisory Service, the spread on short-term foreign borrowing by 16 local lenders stood at 8.8 basis points, a drop of 23.9 basis points from January. A basis point is 0.01 percentage points.
The February figure is the lowest since the watchdog began to compile related data in 2009.
The spread on mid and long-term foreign borrowing that matures in five years also fell 21 basis points to 246 basis points, according to the FSS.
Their mid and long-term overseas borrowing declined last month as the lenders armed with ample foreign currency liquidity repaid short-term debts, the watchdog said.
The refinancing rate of local banks’ mid and long-term foreign debts came to 267.6 percent at the end of last month, compared with 382.2 percent a month ago, it said.
The comparable figure for their short-term foreign borrowing also declined to 65.1 percent last month from 90.3 percent a month earlier, according to the watchdog.
The rollover rate gauges the percentage of fresh overseas borrowing against foreign debts that mature after one year. A refinancing rate of more than 100 percent indicates local lenders have acquired more fresh foreign loans rather than refinancing their maturing foreign debts.
(Yonhap News)
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Articles by Korea Herald
