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Vietnam eases rules on banks' sales of collateral for bad debts
Vietnam's central bank is to introduce measures to allow the country's commercial banks to recover bad loans more quickly.
The central bank will allow commercial banks to sell collateral backing the loans directly to the market - instead of through state-owned agencies.
The change, effective immediately, is contained in a central bank directive issued to banks on Monday.
It allows banks to sell assets used as collateral at market-determined prices.
The previous rules only allowed banks to sell such assets through state-owned agencies, which often caused long delays, a central bank official said.
9/01/02 14:29:03 | ABC Radio Australia News
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