Guardian.co.uk, 6 Oct 2008, Reuters
HANOI, Oct 6 (Reuters) - Vietnamese banks have withdrawn funds from overseas banks to reduce their exposure to the U.S. financial crisis and shifted the funds to banks in Singapore and Hong Kong, the government said.
Prime Minister Nguyen Tan Dung, in a separate statement, also urged the central bank to pursure flexible policies on interest rates, the currency and foreign reserves to ensure liquidity in the banking industry.
Governments, central banks and regulators globally are scrambling to protect their markets from the financial tsunami sparked by last months collapse of investment bank Lehman Brothers.
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