Printer Friendly

Banks in Tonga urged to lower lending rates.

Global Banking News-29 December 2009-Banks in Tonga urged to lower lending rates(C)2009 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 29 December 2009(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

The National Reserve Bank of Tonga has urged banks in Tonga to reduce lending rates.

The central bank has offered special drawing rights (SDR) relief for commercial banks, urging them to reduce interest rates to clients.

The governor of the central bank, Siosi Cocker Mafi, said, 'the Reserve Bank Board of Directors noted the continued slow-down in economic activity and the difficulties that the borrowers are facing in meeting their debt repayment obligations.'

[Editorial queries for this story should be sent to gbn@enpublishing.co.uk]

((Distributed via M2 Communications - http://www.m2.com))
COPYRIGHT 2009 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Global Banking News (GBN)
Date:Dec 29, 2009
Words:130
Previous Article:Westpac chief sells shares.
Next Article:KCB welcomes repo rate revision by central bank.


Related Articles
Kasikornbank to cut key lending rate.
Darling urges bank bosses to lower lending costs.
Darling urges bank bosses to lower lending costs.
Darling urges bank bosses to lower lending costs.
Darling urges bank bosses to lower lending costs.
Darling urges bank bosses to lower lending costs.
Darling urges bank bosses to lower lending costs.
Bank Of England urged to do more to encourage lending.
ECB urges banks to prepare for slow, steady exit.
Saudi private sector 'to pick up strongly' in 2010.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters