Peruskorkoa aletaan muuttaa markkinakoron mukaan
Article Abstract:
The basic rate of interest of the Bank of Finland will change at the beginning of 1999 to be calculated by the Ministry of Finance on the basis of the market rate. The first adjustment to the basic rate by the Ministry will be made in July 1999. After that, Finland's new basic rate of interest will be defined twice a year on the basis of a 12-month reference rate, probably the euribor. The basic rate will be calculated from the average rate of the 3 months preceding the definition time. The basic rate will only be altered if the average changes over 0.25 percentage points. Additionally, the helibor interest rate will be replaced with euribor interest rate from 1 January 1999. Banks expect the change of interest rates to cause more work but no drastic changes. The basic rate of interest has been used only on very few loans in the past years. In April 1998, those loans amounted to just over Fmk 33bn (US$ 6bn), nearly Fmk 20bn of which were housing loans. According to the Bank of Finland, deposits bound to the basic rate of interest amounted to over Fmk 10bn.
Comment:
Basic rate of interest of this co will change at beginning of 1999 to be calculated by Finance Min on basis of market rate
Publication Name: Helsingin Sanomat
Subject: Business, international
ISSN: 0355-2047
Year: 1998
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Suomen korkein luottoluokitus Fitch Ibcalta
Article Abstract:
The credit classification institute Fitch Ibca has increased Finland's credit classification to the highest class of AAA. Previously Finland's long-term foreign currency denominated credit classification was AA+. The short-term credit classification was confirmed to F1+. The institute estimates Finland's economic growth to continue steady, the current account surplus to persist and price development to remain stable. Also unemployment is believed to continue decreasing. According to Finland's Ministry of Finance, the increase in the credit classification means better conditions for new loans and savings of tens of millions Finnish marks.
Comment:
Finland: Credit classification institute Fitch Ibca increases country's credit classification to highest class of AAA
Publication Name: Helsingin Sanomat
Subject: Business, international
ISSN: 0355-2047
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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