webfact Posted September 28, 2017 Share Posted September 28, 2017 PM issues reassurance that nation's banks are stable BANGKOK, 29th September 2017 (NNT) – The Prime Minister has given an assurance that the five banks offered special risk managment measures are still stable and only received the measures to ensure stringent control. Prime Minister Gen Prayut Chan-o-cha has acknowledged that the Bank of Thailand’s announcement that Krung Thai Bank, Kasikorn Bank, Siam Commercial Bank, Bangkok Bangkok and Ayuthaya Bank are now subject to special regulations has been a cause of public concern but explained that the measures are only to further strengthen their stability and bolster foreign confidence in the performance of Thai financial institutions. He assured the public that all five banks are stable with reserves two to three times beyond the minimum requirement. The PM asked that citizens be confident in the banks and continue to engage in normal financial activity, noting the country recently rose in worldwide economic competition rankings. -- nnt 2017-09-29 Link to comment Share on other sites More sharing options...
Somtamnication Posted September 28, 2017 Share Posted September 28, 2017 Errr, ok. Now I'm worried. Link to comment Share on other sites More sharing options...
Get Real Posted September 28, 2017 Share Posted September 28, 2017 When assurance is needed, there is always a reason to worry. Link to comment Share on other sites More sharing options...
nausea Posted September 28, 2017 Share Posted September 28, 2017 It was a translation mistake, we all know it was a translation mistake, sometimes it's best just to keep your mouth shut. Link to comment Share on other sites More sharing options...
taichiplanet Posted September 28, 2017 Share Posted September 28, 2017 and they are slowly dropping the guaranteed coverage of deposits http://www.dpa.or.th/ewt_news.php?nid=320&filename=index___EN Link to comment Share on other sites More sharing options...
Jeremy50 Posted September 29, 2017 Share Posted September 29, 2017 Why does he have a big gold halo, like a Byzantine icon? Link to comment Share on other sites More sharing options...
JAG Posted September 29, 2017 Share Posted September 29, 2017 2 minutes ago, Jeremy50 said: Why does he have a big gold halo, like a Byzantine icon? As my Irish grandmother used to say: "A halo only has to slip six inches and it becomes a noose!" Link to comment Share on other sites More sharing options...
over it Posted September 29, 2017 Share Posted September 29, 2017 Pick the truthful answer: The checks in the mail. I won't c*m in your mouth. The bank deposits are safe. Link to comment Share on other sites More sharing options...
JAG Posted September 29, 2017 Share Posted September 29, 2017 https://www.google.co.th/url?sa=t&rct=j&q=&esrc=s&source=web&cd=7&cad=rja&uact=8&ved=0ahUKEwj3rvH4j8nWAhWLto8KHb7XD7EQuAIIPDAG&url=https%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3DYPIsTKpAoE4&usg=AFQjCNFD8h-eKUGigh9MDpo5Bk5QWmuN5Q Link to comment Share on other sites More sharing options...
klauskunkel Posted September 29, 2017 Share Posted September 29, 2017 too big to fail, eh nudge nudge Link to comment Share on other sites More sharing options...
BuaBS Posted September 29, 2017 Share Posted September 29, 2017 1 Million guarantee , good enough for our 800K mandatory deposit. Link to comment Share on other sites More sharing options...
Eric Loh Posted September 29, 2017 Share Posted September 29, 2017 I will be less worry if he didn't open his mouth. The last time he said something assuring like Yingluck's whereabout was wrong. And that assurance of election........never mind. Link to comment Share on other sites More sharing options...
HappyinNE Posted September 29, 2017 Share Posted September 29, 2017 The first step in banking failure is when authorities say everything is OK. Link to comment Share on other sites More sharing options...
Jonmarleesco Posted September 29, 2017 Share Posted September 29, 2017 4 hours ago, webfact said: The PM asked that citizens be confident in the banks Now, where have we heard that before? And how many times? Link to comment Share on other sites More sharing options...
Jonmarleesco Posted September 29, 2017 Share Posted September 29, 2017 4 hours ago, webfact said: The PM asked that citizens be confident in the banks and continue to engage in normal financial activity, noting the country recently rose in worldwide economic competition rankings. Rose from where, exactly? Link to comment Share on other sites More sharing options...
janclaes47 Posted September 29, 2017 Share Posted September 29, 2017 Time to get my FCD with Kasikorn closed. I noticed that the Baht was tanking against most currencies in the past 3 days, but now I know the reason. Looks like foreign traders know something, which super general denies as usual. Link to comment Share on other sites More sharing options...
Krataiboy Posted September 29, 2017 Share Posted September 29, 2017 3 hours ago, taichiplanet said: and they are slowly dropping the guaranteed coverage of deposits http://www.dpa.or.th/ewt_news.php?nid=320&filename=index___EN Maybe they know something we don't about the real state of Thai banks and their future health. Link to comment Share on other sites More sharing options...
Media1 Posted September 29, 2017 Share Posted September 29, 2017 The 4 Questions Do I trust you ? Do I believe you ? Do I like you ? Do I want you as PM ? Link to comment Share on other sites More sharing options...
Media1 Posted September 29, 2017 Share Posted September 29, 2017 Batton down the hatches a storms coming. Link to comment Share on other sites More sharing options...
Media1 Posted September 29, 2017 Share Posted September 29, 2017 1 hour ago, Krataiboy said: Maybe they know something we don't about the real state of Thai banks and their future health. Obviously Link to comment Share on other sites More sharing options...
Boss Posted September 29, 2017 Share Posted September 29, 2017 I'm worried ! But what alternatives ?? Link to comment Share on other sites More sharing options...
Lupatria Posted September 29, 2017 Share Posted September 29, 2017 1 hour ago, Jonmarleesco said: Rose from where, exactly? Construction is booming! They build plastic beaches everywhere. Link to comment Share on other sites More sharing options...
Baerboxer Posted September 29, 2017 Share Posted September 29, 2017 6 hours ago, taichiplanet said: and they are slowly dropping the guaranteed coverage of deposits http://www.dpa.or.th/ewt_news.php?nid=320&filename=index___EN That plan has bee around some time and has been put back for the original time scale. But they haven't introduced the law that the government can automatically seize depositors savings should a bank need bailing out as the UK and other EU member states have. And the comments on the five Thai banks were similar to those issued before on US and European banks. The whole industry relies on too big too fail, close links to government, and an avoidance of real criminal liability apart from a few cases. Link to comment Share on other sites More sharing options...
dcnx Posted September 29, 2017 Share Posted September 29, 2017 We just had an incoming 1 million baht wire transfer dissappear for 10 days here. The run around we got from the bank was mind numbing. The money finally posted yesterday and no one at the bank will address the delay or that there was even a problem. The US bank confirmed the money was here with proof of the send. The news of risky Thai banks made us really nervous with the timing of the lost wire. I think we're going to start moving money out of here next week. I had a bank account in Cyprus when they had their banking crisis, I'd prefer not to deal with that again. The more they say everything is OK, the more we worry. Link to comment Share on other sites More sharing options...
dcnx Posted September 29, 2017 Share Posted September 29, 2017 4 hours ago, Baerboxer said: But they haven't introduced the law that the government can automatically seize depositors savings should a bank need bailing out They could Article 44 that within in hour. Link to comment Share on other sites More sharing options...
JAG Posted September 29, 2017 Share Posted September 29, 2017 8 hours ago, BuaBS said: 1 Million guarantee , good enough for our 800K mandatory deposit. When push comes to shove I wouldn't mind betting it won't apply to foreigners... Link to comment Share on other sites More sharing options...
BuaBS Posted September 29, 2017 Share Posted September 29, 2017 10 hours ago, Boss said: I'm worried ! But what alternatives ?? Keep it in cash , except for the 3 mandatory months for extention of stay. If the banks were really in trouble , they first would lower interest rates like in the broke nanny states. But they left it at 1,5 %. State guaratee on deposits in europe , japan or the US , mean nothing because those states are more than broke >>> bail ins. Thailand is still healthy financialy . Link to comment Share on other sites More sharing options...
lonewolf99 Posted September 29, 2017 Share Posted September 29, 2017 The Baht is "Tanking".....by about 0.25 of a Baht in 4 days against the Dollar .....if it was 2.5 I might take some notice and if it was 25 Baht I would start to use the word "tanking". Maybe ? and rubbing my hands but not yet. When it comes to Number Crunching, cover ups, and manipulation of information the Wiley Oriental Gentlemen are past masters.... Link to comment Share on other sites More sharing options...
dbrenn Posted September 29, 2017 Share Posted September 29, 2017 Saying that there's no problem is more likely to cause a run on the banks than saying nothing. Link to comment Share on other sites More sharing options...
wakeupplease Posted September 29, 2017 Share Posted September 29, 2017 Quick down the bank and get your money out fast as he cannot tell the truth on any subject. Link to comment Share on other sites More sharing options...
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