Reminiscent of her Asean neighbors' own experience back in AFC1997
Vietnam mounts ‘unprecedented’ US$24 billion rescue for bank engulfed in giant fraud, documents show
The State Bank of Vietnam’s previously unreported cash injections into SCB amount to 5.6 per cent of the nation’s annual economic output, or about one-fourth of Vietnam’s foreign-exchange reserves.
Despite the official support, as at December SCB continued to face liquidity problems and at times struggled to settle payments on time when its customers transferred money to other banks, and to process payments via the country’s main clearing system, according to the new information. This affected customer “psychology” and created risks to the entire banking and financial system, it said.
https://www.businesstimes.com.sg/interna...ments-show
Vietnam mounts ‘unprecedented’ US$24 billion rescue for bank engulfed in giant fraud, documents show
The State Bank of Vietnam’s previously unreported cash injections into SCB amount to 5.6 per cent of the nation’s annual economic output, or about one-fourth of Vietnam’s foreign-exchange reserves.
Despite the official support, as at December SCB continued to face liquidity problems and at times struggled to settle payments on time when its customers transferred money to other banks, and to process payments via the country’s main clearing system, according to the new information. This affected customer “psychology” and created risks to the entire banking and financial system, it said.
https://www.businesstimes.com.sg/interna...ments-show