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SBV mulls raising gold position limit for lenders
The State Bank of Vietnam plans to raise the end-of-day gold position limit for credit institutions authorised to produce, export and import gold from 2 per cent to 5 per cent of their charter capital, a move expected to give banks more flexibility in supplying gold to the market. The proposal was raised in a draft circular to replace Circular No 38/2012 on gold positions of credit institutions. Accordingly, banks permitted to produce, import and export gold bullions and raw gold will be allowed to hold end-of-day gold positions of up to 5 per cent of their charter capital. The increase in gold positions is aimed at ... (full story)
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