November 11, 2008 22:22
SEOUL, Nov. 11 (Xinhua) -- South Korea's central bank said Tuesday that it signed a 63-day repurchasing agreement to buy 1 trillion won (755.9 million U.S. dollars) worth of bank and other special bonds.
Out of the total amount of purchase, the bank bonds accounted for 756.4 billion won (571.7 million U.S. dollars) while the rest was other special debts, according to the Bank of Korea.
The interest rate ranged from 4.51 percent to 4.72 percent, the BOK added.
The auction followed the BOK decision in late October to include bank bonds and some special debts as collateral for its open market operations in an effort to ease a credit crunch sparked by global financial turmoil.
This was the first time for the South Korean central banks to include bank bonds in is repurchase agreement transaction.
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Sources :
- XinHua: Bank of Korea buys banks bond through repurchase agreement, November 11, 2008 22:22
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