State Bank withdraws net 66,907 billion VND, deposit interest rate increase has decreased

In the first 4 sessions of the week (from October 7 to October 10), the State Bank of Vietnam (SBV) bid an average of nearly VND 3,000 billion per session on the mortgage channel, net withdrawing VND 10,339 billion from the market through open market operations.

From the beginning of October to the end of last week (October 4), the State Bank of Vietnam has withdrawn a net of VND56,567.68 billion from the mortgage channel. Thus, if this week is included, the State Bank of Vietnam has withdrawn a net of VND66,907 billion.

System liquidity is guaranteed, interest rates of many banks show signs of cooling down (Photo TL)

Regarding system liquidity, according to a recent survey by the State Bank of Vietnam, liquidity in the third quarter of 2024 remained in a "good" state, continuing to improve compared to the previous quarter. 72.8% of credit institutions assessed the general liquidity situation to be in a "good" state, slightly higher than the 72.5% level in the previous period. 25.4% of credit institutions assessed liquidity to be "normal". Credit institutions forecast that liquidity will continue to improve in the fourth quarter of 2024.

Interbank interest rates continued to decline in the session on October 10. Overnight interest rates in the interbank market decreased by 0.06% compared to the previous session, to 3.31%. Compared to last week, overnight interbank interest rates decreased by nearly 0.7%.

Previously, in August 2024, 15 banks increased interest rates and in September 2024, 12 banks increased interest rates. In early October 2024, only 3 banks increased deposit interest rates and one bank decreased deposit interest rates. This is a sign that the increase in deposit interest rates is cooling down.

Source: https://www.congluan.vn/ngan-hang-nha-nuoc-hut-rong-66907-ty-dong-da-tang-lai-suat-huy-dong-da-giam-post316193.html