[Digital Today reporter Ji-young Lee (이지영)] NH Nonghyup Bank will resume handling variable-rate home mortgage loans after a two-and-a-half-month halt. It is the first move by the banking sector to ease loan restrictions since the government relaxed its total household lending management targets.
According to the financial sector on Tuesday, Nonghyup Bank will resume new issuance of its variable-rate mortgage product, NH Mortgage Loan, from Aug. 20.
Nonghyup Bank has restricted new lending since June 1 to manage total household loan volume.
The resumption is seen as a decision made after the Financial Services Commission on Aug. 13 raised this year's target for managing growth in total household lending in the financial sector to 3.0 percent from 1.5 percent.
Financial authorities will move on Tuesday to adjust total household lending targets by financial institution and by agency. Depending on the scale of the adjustment, other banks may also ease their lending restrictions.
Ji-young Lee
ljy@d-today.co.kr