Post by account_disabled on Jan 2, 2024 7:26:32 GMT 2
Mr. Veerathai Santiprabhob, Governor of the Bank of Thailand (BoT), revealed the results of the financial sector assessment (Financial Sector Assessment Program - FSAP) of Thailand by a team of assessors from the International Monetary Fund (IMF). and the World Bank (World Bank) in the past 2018-2019, which was Thailand's voluntary assessment. After the first assessment in 2007, the overall Thai financial system was found to be stable. Stable and able to handle fluctuations well and supervision of the Thai financial sector is highly effective. Meets international standards, comparable to leading countries. Over the past 10 years, commercial banks have continued to play a key role in the financial sector. Meanwhile, the capital market and insurance sectors have grown significantly. Although the overall financial system is stable But we still need to monitor some risks that have not improved, such as the fragility of the household sector with a high level of debt. The evaluators supported the issuance of preventive measures.
(macroprudential policy) to ensure that household debt vulnerabilities do not expand to have widespread impacts. Mr. Veerathai said that the benefits of taking this assessment It will help to know the strengths and areas for improvement in the financial sector. and push for reform of the financial infrastructure to be strong and progress quickly. It also encourages regulatory agencies to Telegram Number Data develop regulatory frameworks in line with trends in risks in the system. Including developing supervision to be more in line with international standards. In addition, it creates cooperation between domestic and international organizations to increase credibility. Makes investors have confidence in the Thai economic and financial system. By the results of the FSAP evaluation of the financial sector in the BoT. Supervision consists of: 1. Banking supervision: The BoT has been assessed according to the Basel Core Principles for Effective Banking Supervision (BCP), the latest international standard for banking supervision. 29 items, with 24 items receiving evaluation results at a very good level and 5 items at a good level, which shows the development of the Thai banking sector has greatly improved. from the previous evaluation Mr.
Veerathai said that the evaluators were of the opinion that 1) Thai commercial banks were in a stable position. Have high capital and liquidity. 2) There are regulations for maintaining stability and inspecting commercial banks that are efficient and timely with risks. 3) The BoT has close cooperation with commercial banks and regulatory agencies, both domestic and international. Supervision of important financial system infrastructures (financial market infrastructures) in the BoT BAHTNET system. Has undergone an evaluation of the governance of the BAHTNET system. which is Thailand's high-value payment system in accordance with Principles for Financial Market Infrastructure (PFMI) standards, which is the latest international standard for supervising the infrastructure of important financial systems, with 17 points, with evaluation results at the level There were 16 items of very good and 1 item of good level and duties and responsibilities in supervision. (responsibilities for authority) received all evaluation results at a very good level. The evaluators were of the opinion that 1) the BAHTNET system was secure.
(macroprudential policy) to ensure that household debt vulnerabilities do not expand to have widespread impacts. Mr. Veerathai said that the benefits of taking this assessment It will help to know the strengths and areas for improvement in the financial sector. and push for reform of the financial infrastructure to be strong and progress quickly. It also encourages regulatory agencies to Telegram Number Data develop regulatory frameworks in line with trends in risks in the system. Including developing supervision to be more in line with international standards. In addition, it creates cooperation between domestic and international organizations to increase credibility. Makes investors have confidence in the Thai economic and financial system. By the results of the FSAP evaluation of the financial sector in the BoT. Supervision consists of: 1. Banking supervision: The BoT has been assessed according to the Basel Core Principles for Effective Banking Supervision (BCP), the latest international standard for banking supervision. 29 items, with 24 items receiving evaluation results at a very good level and 5 items at a good level, which shows the development of the Thai banking sector has greatly improved. from the previous evaluation Mr.
Veerathai said that the evaluators were of the opinion that 1) Thai commercial banks were in a stable position. Have high capital and liquidity. 2) There are regulations for maintaining stability and inspecting commercial banks that are efficient and timely with risks. 3) The BoT has close cooperation with commercial banks and regulatory agencies, both domestic and international. Supervision of important financial system infrastructures (financial market infrastructures) in the BoT BAHTNET system. Has undergone an evaluation of the governance of the BAHTNET system. which is Thailand's high-value payment system in accordance with Principles for Financial Market Infrastructure (PFMI) standards, which is the latest international standard for supervising the infrastructure of important financial systems, with 17 points, with evaluation results at the level There were 16 items of very good and 1 item of good level and duties and responsibilities in supervision. (responsibilities for authority) received all evaluation results at a very good level. The evaluators were of the opinion that 1) the BAHTNET system was secure.