Asian banks still reluctant to lend to each other

Despite coordinated efforts by US, European and Asian governments, credit markets in Asia remain anaemic.

Banks in Asia are still reluctant to lend to each other despite the coordinated measures launched this week by US, European and Asian governments.

Bankers say the rates at which banks lend to their peers are expected to remain high in Asia at least for the next couple of weeks, despite moves to facilitate the flow of credit.

Fears of an impending recession and capital being locked in Treasury bills T-bills are cited by the bankers as key reasons...

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