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Bank of Thailand to extend the Renminbi – Thai Baht Bilateral Swap Agreement

Under this BSA, as in the previous agreement, the amount of RMB 70 billion or THB 370 billion shall be made available for a period of 3 years.

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The People’s Bank of China (PBC) and the Bank of Thailand (BOT) signed the Extension and Amendment Agreement to extend the Renminbi – Thai Baht Bilateral Swap Agreement (BSA).

Under this BSA, as in the previous agreement, the amount of RMB 70 billion or THB 370 billion shall be made available for a period of 3 years.

The swap transactions between the BOT and the PBC will provide an access for both
central banks to the local currency of the other party. This would bolster confidence of the private sectors as well as financial institutions on the availability of local currency for cross-border trade and investment settlement.

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Banking

The Thai banking system remained resilient in Q3 2021 says BoT

The Thai banking system remained resilient with high levels of capital fund, loan loss provision and liquidity to serve an important role in assisting borrowers and accommodating loan demand to support economic recovery amidst uncertain COVID-19 situation, said Bank of Thailand latest press release.

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The Thai banking system remained resilient with high levels of capital fund, loan loss provision and liquidity to serve an important role in assisting borrowers and accommodating loan demand to support economic recovery amidst uncertain COVID-19 situation, said Bank of Thailand latest press release.

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Economic growth rates in Asia-Pacific are broadly rebounding and debt burdens stabilizing, giving rise to a stable outlook for sovereign creditworthiness in 2022. Still, the pace of recovery differs vastly, and some economies will experience deep economic scarring, according to a new report by Moody’s Investors Service.

(more…)
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