SOUTH Korea’s central bank today said its monetary policy committee has approved a lending programme to help keep credit flowing to the economy and stabilise the local debt market.
The Bank of Korea will provide financing to a special purpose vehicle that will directly purchase AA-rated and A-rated corporate debt, as well as some BBB rated commercial paper.
The loans worth up to 8 trillion won (RM28.2 bil) will be made available on an as-needed basis, the BOK said in a statement. – July 17, 2020, Reuters
