3 sources
Sri Lanka’s LOLC says People’s Bank facility fully cash-secured
The local-currency borrowing is secured against a US dollar deposit maintained with People’s Bank itself.
By Hiru News English
Read full articleSummary
In a public clarification to Stock Exchange, LOLC said the local currency borrowing was secured against a US dollar deposit maintained with People's Bank itself, adding that the bank held full collateral against the facility. The group said its entities maintained US dollar deposits with several international and local banks, including People's Bank, as part of its global treasury operations.
What this story is about
Organisations
- LOLC Group3
- People's Bank2
- LOLC LOLC Holdings PLC
- People's Bank Facility
- LOLC Holdings PLC
- Sri Lankan Group
- Stock Exchange
- LOLC HOLDINGS
Places
- United States3
- Sri Lanka3
Keywords
- deposit3
- secured3
- fully2
- cash2
- misleading
- borrowing
- factually
- confirms
- rejects
- dollar
Names and places drawn from every article in this story. The number shows how many of them mentioned it.
Share this story
Send the whole picture, not one version of it.
Also reported by
3 newsrooms have reported this story
Sri Lanka’s LOLC says People’s Bank facility fully cash-securedEconomyNext
LOLC Rejects Misleading Reports, Confirms People's Bank Loan Is Fully Cash-Secured by USD DepositAda Derana Biz