61. Yet the Bank of Japan has so far resisted these calls, intervening in the market instead to lower the rate at which banks borrow from the central bank. 62. Banks have been borrowing in foreign currency when the peso depreciation came. 63. Dealers said investors feared that the downgrading would make it more difficult for South Korean banks to borrow abroad. 64. Few banks today borrow directly from the Fed, or want to be seen doing so. 65. Furthermore, many banks also borrowed in dollars and were caught in the squeeze when the baht sank in value. 66. He said because the bank borrows on international markets it was important to protect is triple A credit standing. 67. He said the bank will borrow from local and foreign banks to finance the projects through issuing bonds. 68. It proposed making it more expensive for banks to borrow directly from the Fed. 69. Loans that the bank makes on commercial terms come from funds the bank itself borrows by floating bonds, not from donors. 70. Many banks borrowed short-term funds from abroad to make long-term loans to domestic companies that have suffered a slump in sales. |