MIDEAST STOCKS-Loan-deposit shift boosts Saudi; most markets firm | Reuters:
"Saudi Arabian stocks rose sharply on Monday after the central bank raised banks' maximum loan-deposit ratio, while most other bourses in the region were buoyed by a rebound of global markets.
The Saudi central bank, seeking to ease tightening liquidity caused by low oil prices, increased the ratio of deposits that commercial banks can lend out to 90 percent from 85 percent, industry sources told Reuters.
That may not make much difference in the long term to the pressures on Saudi banks, which face deteriorating credit quality as the economy slows as well as demands on their funds from heavy government bond issuance. The three-month Saudi interbank offered rate edged up on Monday to 1.73125 percent from 1.72875 percent."
'via Blog this'
No comments:
Post a Comment