Bank of Korea to lend US$ 8.1 bil. to local financial firms
- 4 years ago
한은, 사상 첫 증권•보험에 비상대출…회사채담보 10조원 한도
The nation's central bank will offer special emergency loans totaling 8-point-1 billion U.S. Dollars to local banks and other financial institutions affected by COVID-19.
The BOK made the decision during a board meeting on Thursday for funds to be available for 3 months, starting May 4th, with a borrowing period of 6 months.
Eligible institutions are required to put up prime corporate bonds with a credit rating of Double-A-minus or higher as collateral.
An increase could be discussed at a later date depending on the situation of the financial market and the exhaustion of funds.
The nation's central bank will offer special emergency loans totaling 8-point-1 billion U.S. Dollars to local banks and other financial institutions affected by COVID-19.
The BOK made the decision during a board meeting on Thursday for funds to be available for 3 months, starting May 4th, with a borrowing period of 6 months.
Eligible institutions are required to put up prime corporate bonds with a credit rating of Double-A-minus or higher as collateral.
An increase could be discussed at a later date depending on the situation of the financial market and the exhaustion of funds.