► Mold appointment 30/6: Gold is completely eliminated in mobilizing capital structure of commercial banks, going to look like? ...
Only a few more days, to 30/6, gold is removed completely mobilized in the capital structure of commercial banks, the official closing of the loan cycle and after 12 years of open conversion mechanism.
A few days, meaning only two previous auction venue finalization of the golden state commercial banks. Look at the size of the State Bank also offered, to measure the amount of gold needed for the last minute.
Release date 27/6, the total estimated volume of 40,000 bid amount, towering 26,000 scale of each regular session last time. There may be additional sessions 6/28 again, the last session, the amount of which will offer basic key for the supply of goods to finalize the bank. And learn by Bloomberg, the number required in about 2-3 tons.
Risk Capital Gold
Late in 2000, the mechanism that allows the use of a credit institution which gold is opened. There are two ways to use main banks up to 30% conversion of gold to raise money for business loans made from the gold deposit. To 30/6, the two axes are officially eliminated from the operation of the bank along with its impact, except loans by maturity will turn yellow in the future.
Over the past decade, gold funds become an important component, even a major influence on the strength characteristics and operations of commercial banks. Besides conversion, lending, gold is a tool used for other purposes not prohibited by law, as well as the role of all information security operations.
The first year of implementation mechanisms, gold was grabbed as a pleasant capital at lower interest rates. Loans in gold also has the habit of a segment of the population. To stage 2005 - 2007, which is considered a gold resources contribute to fever heat in the stock market, real estate and gold swirl of the floor.
But the risk is too great. Gold prices continued to rise, particularly with the explosive growth to 64.32% in 2009, 30% in 2010 and 24.09% in 2011. Reverse, the stock market and real estate prices started plunging, it can be said that crisis. Loans and lending, capital mobilization and transformation are at risk, loss and even legal risks ...
A senior leader of the State Bank had explained to Bloomberg that "matrix" that gold and influence its unpredictable mix of banking, the stock exchange, real estate and even contribute to the "virtual boss" of the economy, and then lead to consequences difficult to measure with numbers. This is a major reason for the operator step by step break with borrowing gold resources, the rotation would split its risks from the system.
Particularly in recent years as the system, which is the main cause of gold loss to the hundreds of thousands in a billion of commercial banks, and is the main contributor to the liquidity risk of collapse, or contribute to cumulative to require mandatory restructuring.
After 6/30/2013, the risks from which gold was almost completely removed. The echoes are the loans maturing in turn, associated with the risk of metabolic reluctant former capital mobilized gold into gold business trends are showing price falls, but a full-time staff of the Bank State says is "not much", and operating gold alone, is associated with a 2% limit state capital of credit institutions.
Get out of "order" ...
Respectively in 2011 and 2012, the State Bank has terminated text mobilization and lending in gold. From this year's sprint stage to mark appointments 30/6 for a complete cessation, but the drastic can see both of the agencies in the inspection.
As above, gold is a risk inherent reasons. Moreover, the golden spiral which intensified earlier levels of gold in the economy, which is the opposite position and confidence in the USD - the national currency (though there are many other factors that impact to its value).
The concern now is the milestone date 30/6 going to look like?
At the industry conference last week, Governor Nguyen Van Binh said the concessions will not realize the gold status, meaning milestone date 30/6 will not be back again. And learn by Bloomberg, the bank has basically completed the final settlement, only needs about 2-3 tons more that can be found in the State Bank to scale two bidding sessions.
However, a few banks "special", associated with the restructuring plan are struggling to finalize certain, but sources told Bloomberg that no large-scale processing and will have specific directions .
Notably, in parallel with the above requirements, the settlement of the account of the group overseas gold "G5" to sell gold to stabilize previously been done.
Basically, the State Bank has completed processing the backlog of capital in gold credit institutions, separating them from the risk of system operation. This process can peel stress in the operations of the bank concerned, noisy information during the past year, but rather "order" in the death of a capital inflow.
Estimated that more than a year ago, at the peak to about 160 tons of gold in the banking system, in the form of deposits. Relatively, this fund is equivalent to about 160-170 trillion. The concern is that the State Bank has peeled a large scale such capital out of the system without hurting liquidity, not disturbing rate, or complications in the system. Regarding the purpose of removing gold capital risk, reduce yellowing in the economy, the operator was successful at this point.
Of course, the banks involved have certain disturbance of the capital structure, business operations and profitability. But policy and roadmap already, they had to perform and gradually get used to the absence of the gold funds.
The remaining problem is how to enlist gone gold resources, efficient use of the economy, instead of leaving it in cold storage in the form of bank kept in safes or people ...
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