Honeymoon Period Over for Kamala Harris Polls Show Tight Race

[flakes]

Far as i know the bank quarantee is max 1,000,000 in Thailand.For what ever the quarantee is worth lets say !

Now my tanachart bank show me a new document it says that it is changed till 10/8/2015 the quarantee is 50 million BHT.then from 10/8/2015 till 10/8/2016 it will be 25 M BHT.Then from 10/8/2016 onwards it will be max one million bht quarantee..

I have the document infront of me it is in thai language but i can see the dates and the amounts...

For someone not believe me i can upload this thai document that i got from the manager of the tanachart bank...

This means if it correct that no need to stay under the 1,000,000 for the next 3 years.

Can someone still double check this for me with their banks ?

[flakes]

By the way she also told me that the quarantee is not from the government because the governement dont even have money to pay out the poor rice farmers,but it is funds already in place by the thai banks them selfves...they have set up the quarantee funds !

[mark5335]

Appears to be correct from the gov't link below:

http://www.dpa.or.th/more_news.php?cid=42&filename=index___EN

[topt]

This is old news and has been mentioned in threads several times -

One example http://www.thaivisa.com/forum/topic/671280-how-to-safely-invest-10-mio-with-fixed-return/page-2?hl=%26quot%3Bbank+deposit+guarantee%26quot%3B#entry6876782

[fletchsmile]

It's currently 50mio.

There were plans to bring it down to 1mio, but these have been put back a couple of years as Tanachart are telling you

As so many other countries in the world - particularly US,UK,Europe and many other places in the West still have issues the West is currently maintaining its higher levels that it brought in during the GFC. So Thailand is pretty much taking their lead, even though the banking sector is not suffering anywhere near the prudential issues the West is still coping with.

eg Thai Banks are coping well with Basel III and have even accelerated certain aspects of the timing. Meanwhile the US is still struggling in its confusion and legislation, and Europe in particular is struggling with the numbers reequired.

Nothing to worry about for a couple of years. Even then they'll review what's happening in the rest of the world

Cheers

Fletch

[Naam]

but it is funds already in place by the thai banks them selfves...they have set up the quarantee funds !

that is of course nothing but rubbish.

[vaultdweller0013]

but it is funds already in place by the thai banks them selfves...they have set up the quarantee funds !

that is of course nothing but rubbish.

Its a simplistic explanation, but not rubbish. This is how deposit insurance typically works around the world. Banks are required to pay a small percentage of their overall deposits into an independent fund, in the case of Thailand, the Deposit Protection Agency. This fund is then used to cover any shortfall depositors would have had in the case a bank goes bankrupt and did not have enough assets to cover all deposits. There is also typically a government guarantee to cover any shortfall in the deposit insurance fund (this is where the EU messed up in Cyprus -- they considered not honoring this guarantee).

Now, if every bank went bankrupt, the fund couldn't cope, and the ability of the government to handle the situation would be questionable. However, if circumstances existed that caused a majority of banks to fold, getting back your deposits in full would probably be low on your list of priorities.

In the US, this system has been working fine. There are still regular occurrences of banks folding, but they rarely make much news, as there is always no concern that people will lose money.

[Naam]

but it is funds already in place by the thai banks them selfves...they have set up the quarantee funds !

that is of course nothing but rubbish.

Its a simplistic explanation, but not rubbish. This is how deposit insurance typically works around the world. Banks are required to pay a small percentage of their overall deposits into an independent fund, in the case of Thailand, the Deposit Protection Agency. This fund is then used to cover any shortfall depositors would have had in the case a bank goes bankrupt and did not have enough assets to cover all deposits. There is also typically a government guarantee to cover any shortfall in the deposit insurance fund (this is where the EU messed up in Cyprus -- they considered not honoring this guarantee).

Now, if every bank went bankrupt, the fund couldn't cope, and the ability of the government to handle the situation would be questionable. However, if circumstances existed that caused a majority of banks to fold, getting back your deposits in full would probably be low on your list of priorities.

In the US, this system has been working fine. There are still regular occurrences of banks folding, but they rarely make much news, as there is always no concern that people will lose money.

stick to the facts! i still claim that

they have set up the quarantee funds !

is rubbish.

nobody has "set up" any funds, neither banks nor government. moreover, compare $100k FDIC or €100k EU-guarantee with the present THB 50 million (USD 1.5 million) and save your lecture for the ignorants.