{"id":42617,"date":"2016-03-05T13:46:54","date_gmt":"2016-03-05T11:46:54","guid":{"rendered":"http:\/\/localhost\/wordpress\/?p=42617"},"modified":"2016-03-05T13:46:54","modified_gmt":"2016-03-05T11:46:54","slug":"%d8%a7%d9%84%d8%a8%d9%86%d9%83-%d8%a7%d9%84%d9%85%d8%b1%d9%83%d8%b2%d9%8a-%d9%8a%d8%b9%d9%84%d9%86-%d8%a7%d9%84%d8%ae%d8%b7%d8%a9-%d8%b1%d9%88%d9%8a%d8%aa%d8%b1%d8%b2","status":"publish","type":"post","link":"https:\/\/www.satfrequencies.com\/invest\/%d8%a7%d9%84%d8%a8%d9%86%d9%83-%d8%a7%d9%84%d9%85%d8%b1%d9%83%d8%b2%d9%8a-%d9%8a%d8%b9%d9%84%d9%86-%d8%a7%d9%84%d8%ae%d8%b7%d8%a9-%d8%b1%d9%88%d9%8a%d8%aa%d8%b1%d8%b2\/","title":{"rendered":"\u0627\u0644\u0628\u0646\u0643 \u0627\u0644\u0645\u0631\u0643\u0632\u064a \u064a\u0639\u0644\u0646 \u0627\u0644\u062e\u0637\u0629. \u0631\u0648\u064a\u062a\u0631\u0632"},"content":{"rendered":"
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02:24 25Sep08 RTRS-UPDATE 2-UAE cenbank gives banks access to costly funds
\n (Adds details, analyst comment, background)
\n By Stanley Carvalho and Daliah Merzaban
\n ABU DHABI\/DUBAI, Sept 25 (Reuters) – The UAE central bank
\nsaid it would give banks access to short-term funds at a premium
\nto market rates from Thursday to ease tensions in money markets
\nas it sought to stave off effects from the global credit crunch.
\n Banks in the United Arab Emirates said the facility offered
\nreassurance that ample funds will be available to keep the
\nfinancial system functioning, but at a cost high enough to
\npromote prudent lending and a gradual slowdown in loan growth.
\n Central banks across the oil-exporting Gulf have faced
\nuncomfortably high credit growth that in the UAE hit 49 percent
\nin the year to June. A near doubling of money market rates in
\nfour months threatens to rapidly brake this loan growth.
\n The central bank said on Monday it would launch a 50 billion
\ndirham ($13.62 billion) emergency facility to address tension in
\nthe money markets, but left banks waiting for more than two days
\nfor details on the structure.
\n “The central bank wants to strike a balance because you
\ndon’t want to keep credit growth at these levels,” said Marios
\nMaratheftis, regional head of research at Standard Chartered
\nBank.
\n “Banks should slow down their credit growth but you need an
\norderly slowdown.”
\n Under the programme, banks can borrow an amount equivalent
\nto their required reserves at the central bank’s repurchase rate
\nplus 3 percentage points. The repo rate is 2 percent and the UAE
\nbank reserve requirement on demand deposits is 14 percent.
\n Banks borrowing more than their reserve level need to pay
\nthe repo rate plus 5 percentage points, according to a circular
\nreleased to banks late on Wednesday.
\n Calling the rates “high”, bankers in Dubai and Abu Dhabi
\nsaid lenders may choose to turn to the facility only as a last
\nresort and, with credit conditions tightening globally, they
\nwould be more careful about their lending.
\n Interbank rates in the UAE rose on Thursday, the one-month
\nrate climbing to 3.7625 percent from 3.66875 percent a
\nday earlier.
\n “The measure tells the banks that if they are unable to
\nraise money from their own resources, they can approach the
\ncentral bank, but it would cost more,” said a senior banker in
\nthe Union National Bank treasury department.
\n To ease a liquidity squeeze in the market that tends to
\nhappen at the end of the week, the central bank said it would
\nalso temporarily abolish a six-day limit on settling overdrafts
\non current accounts. <\/p>\n

CONTROLLING CREDIT GROWTH
\n With economies surging on a more than five-fold rise in oil
\nprices since 2002, Gulf states want to finance massive
\ninfrastructure, real estate and industry projects to diversify
\ntheir economies away from a reliance on energy exports.
\n But they are also battling inflation at record- or
\nnear-record peaks, and dollar pegs in most Gulf states,
\nincluding the UAE, have forced them to keep interest rates low
\nin line with the U.S. Federal Reserve.
\n Gulf Arab states outside the UAE said on Wednesday they
\nwould be ready to provide liquidity to help local lenders resist
\na global financial crisis but saw no need to step in yet and
\ninstead welcomed a moderation in credit growth.
\n Bankers had expected the central bank would offer emergency
\nfunds at close to interbank rates, but said that move would have
\npromoted credit growth, which the central bank wants to avoid.
\n “The central bank is very careful, it is a very thin line
\nand the central bank did not want to overstep it,” said a senior
\nbanker at Abu Dhabi’s First Gulf Bank.
\n (Additional reporting by John Irish in Dubai; editing by
\nStephen Nisbet)
\n ((daliah.merzaban@thomsonreuters.com; +971 4 391 8301; Reuters
\nMessaging: daliah.merzaban.reuters.com@reuters.net<\/a>))
\n($1=3.672 dirhams)
\n Keywords: UAE FACILITY\/ <\/p>\n

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Thursday, 25 September 2008 02:24:32
\nRTRS [nLP561651] {EN}
\nENDS<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

02:24 25Sep08 RTRS-UPDATE 2-UAE cenbank gives banks access to costly funds (Adds details, analyst comment, background) By Stanley Carvalho and Daliah Merzaban ABU DHABI\/DUBAI, Sept 25 (Reuters) – The UAE central bank said it would give banks access to short-term funds at a premium to market rates from Thursday to ease tensions in money markets […]<\/p>\n","protected":false},"author":406,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-42617","post","type-post","status-publish","format-standard","hentry","category-7"],"_links":{"self":[{"href":"https:\/\/www.satfrequencies.com\/invest\/wp-json\/wp\/v2\/posts\/42617","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.satfrequencies.com\/invest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.satfrequencies.com\/invest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.satfrequencies.com\/invest\/wp-json\/wp\/v2\/users\/406"}],"replies":[{"embeddable":true,"href":"https:\/\/www.satfrequencies.com\/invest\/wp-json\/wp\/v2\/comments?post=42617"}],"version-history":[{"count":0,"href":"https:\/\/www.satfrequencies.com\/invest\/wp-json\/wp\/v2\/posts\/42617\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.satfrequencies.com\/invest\/wp-json\/wp\/v2\/media?parent=42617"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.satfrequencies.com\/invest\/wp-json\/wp\/v2\/categories?post=42617"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.satfrequencies.com\/invest\/wp-json\/wp\/v2\/tags?post=42617"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}