Connect with us

Banking

Thai Central Bank will not revise loan-to-value (LTV) measures

The central bank has implemented the LTV regulation to deal with household debt and speculative activities, which have caused home prices to increase

National News Bureau of Thailand

Published

on

Real Estate promotion billboards in downtown Bangkok

BANGKOK, 30 May 2019 (NNT) – Following the implementation of the loan-to-value (LTV) regulation since April this year, mortgage lending has shown signs of slowing down.

However, the Bank of Thailand (BOT) reported that the slowdown is caused by the accelerated transactions since the end of last year.

The BOT Governor, Veerathai Santiprabhob, said the central bank will not revise the LTV measures at this time because the contraction of the mortgage market is caused by the accelerated transactions and ownership transfers since the fourth quarter of 2018. As a result, the mortgage lending figures for April and May were lower than projected. The BOT will observe the impact of these measures for a period of time before making further decisions.

The central bank has implemented the LTV regulation to deal with household debt and speculative activities, which have caused home prices to increase. The central bank insisted that this regulation will benefit first-time home buyers who look for affordable homes. The regulation will also help prevent an economic bubble from forming in the country’s property sector.

As for the BOT’s measures to supervise car loans, the central bank had a discussion with the Thai Bankers’ Association (TBA) to consider the criteria for auto loan approvals in connection with a buyer’s debt to income ratio. Previously, banks and financial institutions approved loans by focusing more on the products than the buyer’s income.

Source link

Continue Reading
Advertisement
Comments

Banking

Bank cuts Thai 2020 GDP growth outlook to 2.7%

SCB’s Economic Intelligence Center (EIC) has released its latest growth forecast, at 2.7 percent, showing a slow recovery from just 2.5 percent economic growth in 2019

Boris Sullivan

Published

on

SCB cuts GDP growth forecast to 3.1%

SCB’s Economic Intelligence Center (EIC) has released its latest forecast, indicating that the Thai economy at the end of 2020 will have grown by 2.7 percent, showing a s recovery from just 2.5 percent economic growth in 2019, thanks to a better performing export sector and improved global economy.

(more…)

Continue Reading

Banking

Moody’s outlook for APAC corporates remains negative in 2020

Moody’s Investors Service says in a new report that overall credit conditions for APAC non-financial companies will weaken in 2020

Avatar

Published

on

• While positive, the US-China trade agreement will not resolve core differences, dampening business sentiment globally 

(more…)

Continue Reading

Banking

Bank of Thailand (BOT) orders banks to revise interest rates and fees

Bank of Thailand (BOT) has ordered commercial banks to revise their interest rates, and the fees they charge for their financial products and services including ATM and debit card fees

National News Bureau of Thailand

Published

on

Good news for the general public and SMEs as the Bank of Thailand (BOT) has ordered commercial banks to revise their interest rates, and the fees they charge for their financial products and services, including ATM and debit card fees, to help reduce the burden borne by customers.

(more…)

Continue Reading

Most Read

Upcoming Events

Thu 23

12th World Congress on Alzheimers Disease & Dementia

January 23 @ 9:00 am - January 24 @ 5:00 pm BMT
Feb 12

Future Energy Asia

February 12 - February 14
BITEC
Bangkok
Feb 19

13th World Congress on Nursing and Health Care

February 19 @ 9:00 am - February 20 @ 5:00 pm BMT
Phuket
Phuket city
Mar 11

Food science conferences

March 11 @ 8:00 am - March 12 @ 5:00 pm BMT
Mar 11

Food science conferences

March 11 @ 9:00 am - March 12 @ 5:00 pm BMT

Press Release

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 12,053 other subscribers

Trending