DELTA: FRANKIE FRANKIE:“after it has been installed price in the budget agreement with the Government and the International Monetary Fund “.
IT LOOKS LIKE THE NEW BUDGET HAS A RATE THAT WAS AGREED WITH THE IMF… DELTA
Frank26: Math ……….. Is done.
Maybe even see a visible RI in Jan?? And how about finally being Art8 compliant??? (publicly)
Float on up (RV) into early early FEB from approved Budget IMF rate (w/rider, HCL, Art24)
My studies are telling me we should see some Basel III implementations right around the time of the TPP… which makes me wonder…
What US global-theater MSM (main stream media) event is being deployed for the SQUIRRELS to keep the foxes busy while the hens move all their eggs into the asset backed farm house?!?!
dellloyd : Frank in case you haven’t seen this yet : http://www.bayancenter.org/en/wp-conten … ressed.pdf 2016 Budget
Walkingstick: CBI News & Announcements
(Statement) when issuing banknote category (10,000) dinars edition in 2015 (second edition), was part of a White put surrounds the window transparent while not include the edition 2013 of such a framework, have been received questions of the Central Bank and banks for this addition.
Walkingstick: VN Central Bank praised for forex mechanism
The SBV unveiled a flexible dong/dollar exchange rate mechanism on December 31 under which it will set the reference rate every day, instead of leaving it untouched for a long time as it did hitherto.
The trading band continues to be plus or minus 3%.
The SBV has also instructed banks not to lend foreign currencies including the dollar, only sell them.
On December 5, a day after the new policy came into effect, the inter-bank reference rate increased marginally to VND21,907 to the dollar.
SBV executives said the flexible approach would enable it to achieve its management objectives while letting the currency move based on global market fluctuations.
The move was only one of several measures to strengthen the role of the Vietnamese currency and steady the forex market by making dollar hoarding and speculation unremunerative.
Analysts have hailed the new mechanism as a move that effectively scuttles the rigid control the bank exercised over the years and is necessary to ensure competitiveness amid the country’s deeper integration.
It would closely track developments both at home and abroad, helping the central bank proactively adapt to changes, they said.
But businesses are a bit more wary.
Most prefer a stable exchange rate regime since it helps them better control costs.
They said the imminent volatility would force them to keep an eye on market developments, and, to hedge risks, use derivatives.
In fact, according to SBV statistics, already the value of US dollar forward contracts has skyrocketed from around US$10 million a day to US$100-200 million after the central bank implemented a series of anti-dollarisation measures.
They want banks to diversify forward trading to create more options for them.
Early last July news that foodstuff maker Kinh Do Joint Stock Company planned to invest VND1 trillion (US$4.4 million) in Dong A Commercial Joint Stock Bank when the latter issued shares to increase its chartered capital from VND5 trillion to 6 trillion, became a hot topic.
For Kinh Do it would not be the first investment in the financial sector. In 2007 it signed a strategic co-operation agreement with Eximbank and invested US$90 million in it.
This created a slew of opportunities for private players to enter the potentially lucrative sector.
The Doji Group, for instance, bought a controlling 20% stake in TPBank.
But not all private investment in the financial sector has been successful: Kinh Do, for instance, had to sell its stake in Eximbank within three years and without a clear explanation, and also quit the plan to buy stakes in Dong A Bank when the lender was suddenly placed on a list of banks under the State Bank of Vietnam’s special control.
After being restructured, TrustBank was bought out by the Thien Thanh Group and some other investors, and renamed Viet Nam Construction Joint Stock Bank. But the bank went under and was finally taken over by the central bank at zero price.
Analysts attributed private investors’ failure in the banking sector to several reasons, but said the main ones are the difficult economic situation and banks’ high bad debts.
http://english.vietnamnet.vn/fms/busine … anism.html