Support #7517
[Request ID :##3903##] : WEBSITE: New Tab for Base Rate - Consumer > Financing
| Status: | Work Completed-End life cycle | Start date: | June 15, 2017 | |
|---|---|---|---|---|
| Priority: | Normal | Due date: | ||
| Assignee: |  Zahir Abd Latif | % Done: | 100% | |
| Category: | Information Site | Spent time: | - | |
| Target version: | - |
Description
Hi,
Kindly Kindly attend below request.
1. to add new tab and name it Base Rate
2. to insert the following content in the new tab
What is Base Rate (BR)?
Base Rate (BR) is the benchmark cost of fund of the bank in accordance to the new reference rate framework introduced by Bank Negara Malaysia and it replaces the Base Financing Rate (BFR) as the pricing for retail financing effective 2nd January 2015. It is applicable to new retail financing with floating profit rates pegged to the bank’s Base Rate (BR) except AITAB financing.
Under this new framework, KFHMB’s BR is computed based on its Retail marginal cost of funds plus the Statutory Reserve Requirement (SRR) cost imposed by Bank Negara Malaysia, the marginal cost of funds is referring to deposit rate of Ringgit only deposit, excluding Gold account and Investment account.
What would trigger a change in the Base Rate?
The BR will be adjusted when there are changes in marginal cost of funds due to monetary policy e.g. Overnight Policy Rate (OPR) and/or changes in the funding conditions e.g. movement in KLIBOR.
3. to add Historical benchmark Cost Of Fund (COF) in the last 3 years graph
visual is shared in \\10.20.208.13\images\v2\images > BenchmarkCOFvsBR-trend3yrs and \\10.20.8.132\share doc\Azli CCD > BenchmarkCOFvsBR-trend3yrs
History
#1 Updated by Anonymous over 7 years ago
- Status changed from New - Begin Life Cycle to Work Completed-End life cycle
- Assignee changed from Anonymous to Zahir Abd Latif
- % Done changed from 0 to 100