Thai Central Bank Labels Top Firms 'Risky,' Panic Ensues

By Teeranai Charuvastra, Staff Reporter

 

A specialist with Lehman Brothers MarketMakers reacts on Sep. 15, 2008, to the news of worst stock market loss since 9/11 terror attacks. Photo: Associated Press

 

BANGKOK — A declaration from the central bank describing five of the nation’s largest financial institutions as “risky” should not cause alarm, according to an investment banker and the leader of the ruling junta, who weighed in Tuesday to tell everyone to calm down.

 

“Don’t panic. People are ready to panic about anything all the time,” Gen. Prayuth Chan-ocha told reporters Tuesday.

 

Full Story: http://www.khaosodenglish.com/news/business/2017/09/27/risky-banks-crisis-mistranslation-panic/

 

-- © Copyright Khaosod English 2017-9-27

“Don’t panic. People are ready to panic about anything all the time,” Gen. Prayuth Chan-ocha told reporters Tuesday."

 

nothing worry

5 of the  major financial instituions ......         names?

Very misleading report - using photos and information of 9 years ago to make it appear current stock market crash.  Central Bank just listed 5 banks that were too large to allow to fail but used poor translation of English to come up with the risky word rather than that they would be subject to additional regulations to further insure their safety.  .

2 hours ago, sweatalot said:

5 of the  major financial instituions ......         names?

In the article.

3 hours ago, ratcatcher said:

“Don’t panic. People are ready to panic about anything all the time,” Gen. Prayuth Chan-ocha told reporters Tuesday."

 

Besides, my deputy will waddle along in a moment to rearrange the deck chairs....

 

Curses - I forgot, we've already banned them!

No Bank should be too big to fail,other wise nothing's going to change,

tax payers money is used to support them,as has happened in the past.

regards worgeordie

 

The banks just need more deposits of lucky amulets and some of Prayuths black magic advice to provide direction and they will be ok again.

Lost in translation:

 

'The terminology used by the Bank of Thailand – “systemically risky financial institutions” – was a mistranslation of the English term “systemically important financial institutions,” or SIFI, which is a less colloquial descriptor for “too big to fail.” '

More the question, which bank is lending the junta money for their military purchases,

their  returns are guaranteed by the borrower, The Thai people, 

Who are the five and who are on their boards? So what are their problems in the market place?

Had to read the lead article: Siam Commercial Bank, Kasikorn Bank, Bank of Ayudhya, Krungthai Bank and Bangkok Bank are the suspected culprits.

 

However its all a mistake in translation? The Government has been digging deep for funding of new projects? How are they doing this.

 

At the end of the day you have to have the money to cover all bets.

 

Has Moody's re-rated these banks?

This is why top jobs should be assigned on the basis of competence, not on the basis of thick enveloppes.

The bobo probably blames google translate....

Putting 3 million in a Thai bank for the new 10 year retirement visa isn't looking like such a good idea at the moment.

 

When they tell you not to panic is usually when you should start panicking.