Hello,

 

With such massive NPL I am wondering about deposit protection insurance for non-residents and if it exists at all how reliable it is....

http://www.dpa.or.th/en/site/index

 

"

Who is protected?

     Individual depositors are automatically protected upon opening a deposit account with a financial institution as prescribed in the Deposit Protection Agency Act B.E. 2551 (2008). Protection is based on a per depositor per institution basis, meaning that all of an individual’s deposit accounts across all branches of that financial institution will be aggregated into a single amount.

     Juristic depositors such as companies, funds, foundations, temples, associations, and cooperatives are also protected in the same manner as individual depositors.
     Foreigners with Thai baht deposit accounts at member financial institutions in Thailand are also protected under the Deposit Protection Agency Act. However, “Non-Resident Baht Accounts” as defined in the Exchange Control Act B.E. 2485 (1942) are not protected."

 

Protected Deposit Products

     Protected deposit products are deposit accounts that are opened at member financial institutions under the Deposit Protection Agency Act. They must be denominated in Thai baht and must be opened within the country. Currently, there are 5 types of protected deposits:

• Current deposit accounts
• Savings deposit accounts
• Fixed deposit accounts
• Certificates of deposit
• Deposit receipts

     Financial products or certain deposit products that are not protected include:

• Foreign currency deposit accounts
• (SSF, RMF) Money invested in bonds, debentures, mutual and tax-saving funds (SSF and RMF)
• Deposits in cooperatives
• Cashier’s cheques and bills of exchange
• Electronic money (e-money)
• Savings insurance products offered by insurance companies

What's the coverage limit

     If a member financial institution’s license is revoked, depositors of that institution will receive their deposits from the Deposit Protection Agency up to the coverage limit. The coverage is based on a per depositor per institution basis (not one account per institution), meaning that depositors with multiple accounts across all branches of that institution will have those deposits - both principal and interest - aggregated into a single amount.
The current coverage limit is 5 million baht until 10 August 2021. From 11 August 2021 onward, the coverage limit will be 1 million baht.

Edited September 9, 20205 yr by tonray

Not doubting you, but where did you see the data for the NPL?

19 hours ago, Barnabe said:

Not doubting you, but where did you see the data for the NPL?

Just seeing articles here and there in the news.