Banking
The Bank of Thailand new loan rules
The Bank of Thailand today announced a “preventive measure”, by setting the loan to value (LTV) limit for condominium and housing purchases.
The Bank of Thailand today announced a “preventive measure”, by setting the loan to value (LTV) limit for condominium and housing purchases.
Thailand’s property and stock markets run a risk of facing a bubble burst if foreign capital continues flowing into Asia in large amounts because many countries in the region remain under inflationary pressure, according to a leading economist.
The loan to value ratio for low-rise housing price will be capped at 95 per cent, starting from January 1, 2012.
For condominium units costing less than Bt10 million, the LTV is capped at 90 per cent. It will be applied to purchase contracts.
For low-rise properties, the cap on LTV is 95 per cent. It will be applied to purchase contracts dated January 1, 2012 onwards and will not be retroactive.
The Financial Institutions Policy Committee is of the opinion that the BOT should cap the LTV ratio, with consideration of impacts on all parties like buyers, developers and commercial banks. This preventive action will mitigate future risks.
The problem might get out of hand if we wait until there is a clear sign of risks or when problems emerges,” Bank of Thailand Deputy Governor Krirk Vanikkul
BOT launches new rules
Banking
APAC corporates likely to improve in 2021
Moody’s Investors Service says in a new report that credit conditions in APAC will improve in 2021, supported by the gradual recovery of economic activity given the early containment of the pandemic in several Asian economies.

Ongoing fiscal and monetary support in both advanced and emerging markets will also aid improving conditions, but renewed lockdowns in parts of the world have stalled the nascent global economic recovery and create uncertainty around improving credit conditions.
(more…)Banking
Can Fintech drive a strong post-COVID-19 recovery in Asia?
The pandemic has highlighted the power of digital technology. Now is the time to harness this power for inclusive growth so that communities, especially in poor and remote areas, can survive the crisis and thrive.
Banking
BoT sees mild impact of new COVID-19 wave on the economy
The Bank of Thailand (BoT) does not see the new wave of COVID-19 infections as having as much of an impact on the economy as the first wave, as fewer businesses have had to be suspended.

BANGKOK (NNT) – Despite a new and wider wave of COVID-19 infections in the country, the Bank of Thailand (BoT) has assessed that the economic impact of the situation will not be as severe as the first wave as the effects of the virus are not as pronounced, and public health preparations, including plans for vaccination, are in place.
(more…)-
Forex1 week ago
Leverage from Forex Brokers & How Beginners Can Benefit from It
-
Economics6 days ago
Thai economy to grow 4% in 2021 following 6.5% decline in 2020
-
National5 days ago
Human trafficking cases in Thailand hit decade low due to COVID-19
-
Banking1 week ago
Can Fintech drive a strong post-COVID-19 recovery in Asia?