Bank of Thailand reiterates limited impact of global banking problems
published : 20 Mar 2023 at 18:16
Thailand's central bank on Monday repeated that it expected only a small impact on the country's financial system and financial markets from the problems at banks in the United States and Europe, and would closely monitor the situation.
The Thai banking sector has a low number of transactions involving the troubled banks, and the sector is strong with high levels of capital, reserves and liquidity, the Bank of Thailand (BoT) said in a statement.
At the end of 2022, the kingdom’s banking system had a capital adequacy ratio of 19.4%, a liquidity coverage ratio of 197.3% and a non-performing loan coverage ratio of as 171.9%, the BoT said.
"The position is better than during the 2008 global financial market," it said.
While global financial markets have shown some investor concerns and high volatility in banking stocks, Thai financial markets have seen had a limited impact due to their limited dealings with the troubled banks, it said.
Asia policymakers on Monday moved to calm nerves after a Credit Suisse takeover.
- bank of thailand
- credit suisse