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Previously, the write-off rate for loans was about 26%.
Last week, the rate for fixed 30-year loans was 6.85percentt, and the rate for five-year interest-only loans was 6.65percentt.
The crackdown came just as the market for subprime loans was starting to explode.
A withholding tax on interest on foreign loans was also rolled back after criticism.
In that year, the average spread between bonds and loans was 0.89 percentage points.
The bank's effort to sell the loans was reported earlier by The Financial Times and Reuters.
A development bank that specializes in industrial and agricultural loans was established in 1988.
But the maximum term of the loans was about a year.
This show suffers from lack of clout: getting the right loans was difficult.
The fee to get the loans was fifteen dollars for each hundred dollars borrowed.
The cancellation of the loans was first reported by the New York Observer.
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CEO of Professional Science Editing for Scientists @ prosciediting.com