[Korea Selected financial newspaper reporters] to banks to raise the spreads of mortgage loans from next month to undergo a review of internal committees.
In addition to ever disclose the interest rate to be reorganized so that common criteria can compare consumers accurately than the interbank rate.
Korea Federation of Banks announced that the 16th amendment on the 'best practices for improving the rationality of the system lending rates' and' banking products based on unified disclosure "of such information by the Board of Directors voted in the last 14 days.
Bank lending rate consists of a base rate and lending spreads. Fixed interest rate, such as the nose (COFIX) has little discretion to the bank. But spreads have gotta debate on the possibility of raising arbitrary calculation, because decide to reflect the goals margin, cost of services, such as risk premium by the bank.
Consider including the management objectives of the Bank to devise a single goal margin spreads of items According to the amendments made to devise best practices systematically and rationally.
It also struck a huge bank's internal audit committee when new or adjusted spreads item to go through when adjusting the target margin and acceleration adjusting interest rates (interest rate cuts), such as interest rates rise and orientation goal margin hikes, preferential interest rate reduction.
The bank internal control standards 'verification procedure for the reasonableness of the rate calculation system "and" Check for excessive fluctuations in the spreads procedure' has ever even add checks at any time.
Mortgage interest rates had to disclose even easier to compare than the reorganized. Now that was difficult to compare the customer to look at the interest rates banks having to find 16 published each banking website to check the main interest of good cheer.
KFB has two parallel banks to disclose to calculate the maximum, minimum interest rates, depending on the interest rate calculated based on a common set (credit rating three grades, maturity 30 years and non-deferred amortization scheme, the loan amount 200 million won, etc.).
Note courageous interest rate when compared to the easy 'base rate', 'Spread', to disclose classified as "prime rate", "final rate, and interest rate changes was ever too soon update its disclosures.
In addition, when the prime rate customers not receive preferential interest rates alters the situation batdeon was to add improvements over the announced interest rate fluctuations text messages, rate cuts Claims also sent an email information service for events.
Banks Association of saying 'this system improvements are future market interest rates will be according As is concern that the loan interest paid customers can be unreasonably increased posed by lack of transparency in lending rates calculation process of rise when banks' lending interest rate calculation system It said it intended to strengthen the rationality and enhance customer confidence in the lending rate calculated.
The loan interest rate is expected to improve disclosure methods applied starting this month, reinforcing the rationality of the loan interest rate calculation system is implemented from May to come.
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