ID :
202018
Thu, 08/18/2011 - 06:01
Auther :
Shortlink :
https://oananews.org//node/202018
The shortlink copeid
Korean banks temporarily halt household lending
SEOUL, Aug. 18 (Yonhap) -- South Korea's major banks said Thursday that they temporarily suspended the extension of fresh household loans in a bid to join the regulator's efforts to curb excessive growth of household debt.
Local banks, including Shinhan Bank and Hana Bank, said they have begun to halt extending fresh home loans, including mortgage lending and some types of credit loans, and will do so until the end of August.
The move came as the government unveiled a set of measures to curb snowballing household debt in June by tightening banks' loan-to-deposit ratios and mending banks' lending practices.
As of the end of March, household debt surpassed the 800 trillion won mark due to a long streak of low rates and the economic recovery.
Local banks, including Shinhan Bank and Hana Bank, said they have begun to halt extending fresh home loans, including mortgage lending and some types of credit loans, and will do so until the end of August.
The move came as the government unveiled a set of measures to curb snowballing household debt in June by tightening banks' loan-to-deposit ratios and mending banks' lending practices.
As of the end of March, household debt surpassed the 800 trillion won mark due to a long streak of low rates and the economic recovery.
