BOT Eases Debt Consolidation Rules to Help Debtors

[snoop1130]

 

BANGKOK, Nov 22 (TNA) – The Bank of Thailand allowed debtors to refinance and consolidate debts to reduce their loan interest burdens so that they can survive the COVID-19 crisis.

 

BOT assistant governor Roong Mallikamas supervising the Financial Institutions Policy Group said the central bank supported financial institutions in consolidating mortgage and retail loans to help the debtors who had good repayment discipline or were affected by COVID-19. In this case, collateral from mortgages can be used to reduce interest and installments for a long period.

 

Full Story: https://tna.mcot.net/english-news-828872

 

-- © Copyright TNA 2021-11-22

 

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[Tropicalevo]

Erm. Masks?

[Cake Monster]

15 hours ago, snoop1130 said:

collateral from mortgages can be used to reduce interest and installments for a long period.

 

Many Thai Mortgages are already at 35 Years payback time

This just appears to be another BOT directive that stops all the bad Debt going into special Situation Loans and NPL, which will help maintain the Countries Credit Rating.

[Stocky]

Why is this Southern Thailand news exactly, is the south anymore indebted than anywhere else in Thailand?