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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Secondary Navigation Singapore Asia Pacific World Search Search: S.Korea says banks' foreign debt rollover improves Reuters - 1 hour 32 minutes ago SEOUL, Nov 5 - South Korea said on Wednesday that local banks were enjoying an improving rollover on their maturing short-term foreign debt after its central bank agreed last week to a $30 billion currency swap line with the U.S. Fed. Deputy Finance Minister Noh Dae-lae also said during a radio programme that bringing down market interest rates was important for the country to avert corporate failures in the face of a deepening fallout from the global financial crisis. But he did not say whether local financial authorities plan to introduce additional measures to help lower the borrowing cost in addition to the central bank's reduction of the policy interest rate by a total of 1 percentage point in October. The yield on the 91-day commercial paper <KRCP=KQ>, a short-term funding tool for corporates, has risen more than half a percentage point to 8-year highs over the past four weeks even as the central bank cut the policy rate by 1 percentage point. The Bank of Korea next reviews the rate on Friday. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business Japan Hot Stocks-Bridgestone, Fast RetailingReuters - 38 minutes ago SNAPSHOT - Financial Crisis - 0012 GMTReuters - 48 minutes ago South Korean won jumps 3.5 pct vs dollarReuters - 50 minutes ago Seoul shares open higher led by exporters, banksReuters - 51 minutes ago Nikkei opens up 1.2 pct as exporters climbReuters - 51 minutes ago Most Popular – Business Viewed Americans flock to vote in historic elections Foods to prevent disease? DNA tests confirm death of millionaire flyer Steve Fossett Obama's grandmother, family 'rock', dies on election eve Australia anxious as Indonesia prepares to execute Bali bombers View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology

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