The Central Bank reports that banks have already lent out RD$10.3 billion or more than half of the RD$20.18 billion reduction in legal exchange requirement authorized by the Monetary Board. The funds are being lent out at fixed rates of 9% for six-year terms. The Central Bank says that the main beneficiaries have been the manufacturing and farming sectors, commerce, and micro and small business owners, which account for 80% of the disbursed loans.
The Central Bank says that 70% of the funds available for consumer loans have already been borrowed, and this covered 1,918 vehicles that were financed.
www.diariolibre.com/economia/2013/07/05/i391347_liberan-300-millones-encaje-legal-autorizado.html