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BoT and PBC sign agreement on Fintech Collaboration

The two central banks aim to promote the use of innovation and technology to reduce costs and improve efficiency of financial products and services.

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 ​On 9 June 2019 Mr. Veerathai Santiprabhob  Governor of the Bank of Thailand (BOT)  and Mr. Yi Gang Governor of the People’s Bank of China (PBC), signed a Fintech Co-operation Agreement in Fukuoka, Japan. 

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According to this agreement, the BOT and the PBC will collaborate on several issues, including:

(1) joint innovation projects and research,

(2) information sharing and

(3) regulatory coordination.

The BOT and the PBC share a common interest to create fintech-friendly ecosystems that support the advancement of innovations and technologies.

The two central banks aim to promote the use of innovation and technology to reduce costs and improve efficiency of financial products and services.

Source : Bank of Thailand

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Asian Development Bank

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Southeast Asia faces an infrastructure investment shortfall of more than $100 billion a year, which may have worsened amid the COVID-19 pandemic.

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Banking

Thai cabinet approves 350 billion baht Aid for COVID-hit Businesses

Thailand unveiled new measures to help small and medium COVID-hit businesses in the tourism industry hit by a liquidity crunch.

Olivier Languepin

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Banking

APAC Banks to Face Portfolio Valuation Losses As Yields Rise

The latest data suggest that Fitch-rated banks in Hong Kong, India, Indonesia, Malaysia and Taiwan have the largest AFS securities portfolios, and display particular sensitivity to changes in yields.

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Fitch Ratings-Hong Kong/Singapore-21 March 2021: A rise in yields for long-dated sovereign bonds will result in near-term losses for Asia-Pacific (APAC) banks as they recognise valuation changes on their available-for-sale (AFS) bond portfolios, but the capital impact should be manageable for most rated banks, says Fitch Ratings.

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