PDRC leader Suthep warns banks against rice loans to government

[webfact]

PDRC leader warns banks against rice loans to government

BANGKOK: -- Protest leader Suthep Thaugsuban last night warned both commercial and state banks against any rice loans to the caretaker government with threat of facing shutdown by protesters.

He said the caretaker government continued with its attempt to secure loans from banks in its bid to pay farmers.

He said earlier attempt to pressure both the Bank for Agriculture and Agricultural Cooperatives failed when it was strongly opposed by the nank’s union.

He said that the government then turned to Government Savings Bank.

He said it was again protested by the bank’s employees after they considered the bank’s liquidity could be jeopardized.

“Now it is trying to get the children’s money to support the rice scheme. But this is not successful when bank employee alerted the PDRC and invite us to shut the bank,” he said.

He also said that now there is possibility that the government is looking to Krung Thai Bank for money and there is strong potential that the banks executive would do so, citing close connection with the government.

He then warned the state bank that it would face shutdown if it lends to the government through whatever channel be it is a loan auction.

Commercial banks are also warned of any channel to extend rice loan to the caretaker government, possibly this week, with threat that they be shut down by protesters.

Another key PDRC leader also urged all protesters who have money in any bank to withdraw their money if their banks provide loans to the government.

The Public Debt Management Office invited financial institutions to hear terms on the bridging loan auction today after the first round failed with no bidders.

The loan in the second round auction will be doubled to 40 billion baht.

Source: http://englishnews.thaipbs.or.th/pdrc-leader-warns-banks-rice-loans-government/


-- Thai PBS 2014-02-03

[CelticBhoy]

"He said . . . " Just look how many lines start with that opening.

All hot air. Fewer and fewer will be listening as the days go by.

[winstonc]

i dont think he had to say anything as i think they are still not an elected government .still caretaker ....i dont think the banks would have the <deleted> to lend them anyway...people closing their accounts would do serious damage to them and their reputation...

[Thait Spot]

Potjaman is rumoured to be fixing a deal

Sent from my Nexus 4 using Thaivisa Connect Thailand mobile app

[kurtgruen]

Keep your money safe....Take it out of the banks and invest it in beer. At least, you will still have money after you sell your empties.

[uty6543]

I don't know where the money should come from but I would like to see the farmers paid ASAP. They have worked hard to provide us with food and deserve to be rewarded for there efforts.

[webfact]

Krungthai Bank board chairman reaffirms no proposal to lend to govt to fund rice scheme, says it's just rumour/MCOT

[Scamper]

The plunder of the banks under administrative pressure, against the banks better fiscal prudence, and particularly against the wishes of monitoring agencies - is unethical and possibly illegal. The administration is under investigation for these very practices. They could lead to Yingluck's impeachment. The banks know that their customers' investments will be at risk as this rice scheme has done nothing but promise huge future losses for all financial institutions that have touched it. It is time for the Yingluck administration to turn off its unilateral mode of behavior and realize that things are very, very different for them now. They do not have a parliament behind them. They no longer have a means to govern. They are at the whim of monitoring agencies, which do not support their practices. In fact, they are moving to impeachment proceedings. When 34 national banks do not want to touch it, that is supposed to send a message. The banks are the trust of the people. They are the foundation of a country's standing. Raiding them is like raiding the people themselves. It's time for the Yingluck administration to admit its addiction, and enter detox.

[bigbamboo]

Potjaman is rumoured to be fixing a deal

Sent from my Nexus 4 using Thaivisa Connect Thailand mobile app

Not heard that line for a while.

[Costas2008]

CelticBhoy, on 03 Feb 2014 - 12:12, said:

"He said . . . " Just look how many lines start with that opening.

All hot air. Fewer and fewer will be listening as the days go by.

I'm happy to see you are still listening to him.

[ramrod711]

Another key PDRC leader also urged all protesters who have money in any bank to withdraw their money if their banks provide loans to the government.

The Public Debt Management Office invited financial institutions to hear terms on the bridging loan auction today after the first round failed with no bidders.

The loan in the second round auction will be doubled to 40 billion baht.

Hit them in the wallet, that's where it really hurts. I don't understand why Suthep hasn't pushed the idea of people boycotting all Shin businesses. Get after it, and mail me a copy of the list.

[CWMcMurray]

Not really a surprise... Have many people (Thai) in the office that have been saying similar since the government has started looking for loans from banks

Also the wife has said the same... Have some bank BE that came up for renewal a couple of weeks ago and she is waiting for the time being...

She wants to see if any of the banks are going to give loans to the governed before deciding what to do.

As she would close out an accounts at what ever bank decides to loan the gov money

Can't really blame her... As regardless I political beliefs, if a bank does loan to gov, it is likely all of those anti gov protesters will run on the bank and close out all of their accounts.

So given this, and the fact that no bank anywhere could likely survive if a large percentage of their customers closed out all of their accounts at the same time... Makes good financial sense to try an get our money out as fast as possible from any bank agreeing to loan funds to the gov

Sent from my iPhone using Tapatalk

[DocN]

He is warning the banks?

I wonder, is there anyone in the country he yet didn't warn over this or that?

[icare999]

who doesn't taksin just lend it its peanuts for him

[Gweiloman]

I have no issue with his call to protestors to withdraw their savings from those banks that decide to lend the money.

But to threaten to shut those banks down (by illegal means obviously, as there won't be any legal grounds for doing so)? Don't you think that this is going too far? Imagine if this happened in any other country. Shutting down FI's illegally threatens national security.

[spirit47]

I would suggest Suthep to not forget that rice farmers are Thais in need. It is not enough to fight against the Taksin-regime, he, and the PDRC should look that they not walk the old elephant trail and not only change the master of the cake...

[gerry1011]

It's certainly not by preventing the farmers to get their money that Suthep and the Dems will gain the heart of the majority.

These guys really don't care about the well being of the people.

There is no way they can get to power anymore. Both Suthep and Abhisit are finished.

But Suthep still keeps barking and Abhisit still licks the hand of the constitution court to get what he wants.

Funny

Keep barking and keep shooting yourself in the foot

Sent from my iPhone...

[Showbags]

Take your money and run....I am.

[Jeremy50]

I don't know where the money should come from but I would like to see the farmers paid ASAP. They have worked hard to provide us with food and deserve to be rewarded for there efforts.

Amen

[icommunity]

Now, his threat should be broadcast nationwide and exposed this evil person for sabotaging the payments to the farmers. The farmers should now wake up to the fact that the Government has been working very hard to pay the farmers despite facing the opposition of EC. The farmer should instead rally to against any effort to block their payments.

[Jeremy50]

Another key PDRC leader also urged all protesters who have money in any bank to withdraw their money if their banks provide loans to the government.

The Public Debt Management Office invited financial institutions to hear terms on the bridging loan auction today after the first round failed with no bidders.

The loan in the second round auction will be doubled to 40 billion baht.

Hit them in the wallet, that's where it really hurts. I don't understand why Suthep hasn't pushed the idea of people boycotting all Shin businesses. Get after it, and mail me a copy of the list.

They have a good point. This could easily result in a run on the banks weeks or months down the line.

[GAS]

I don't know where the money should come from but I would like to see the farmers paid ASAP. They have worked hard to provide us with food and deserve to be rewarded for there efforts.

No, they should not be paid, especially those who straight up admitted that their crops are pure poison and even they will not eat them!

NEVER forget that most of this rice was massively poisoned and coated with fertilizers and pesticides trying to get a larger crop...truly the most tragic part of this whole staggeringly stupid debacle.

I am trying to only eat organic rice at this point.

[smedly]

i dont think he had to say anything as i think they are still not an elected government .still caretaker ....i dont think the banks would have the <deleted> to lend them anyway...people closing their accounts would do serious damage to them and their reputation...

I agree, any bank that even hints at lending money to PTP would see a massive exit of depositors effectively damaging the banks ability to do business, he also runs the risk of alienating the farmers, drawing attention to the fact without the threats would probably have been enough

Protestors also should not have interfered with the election - he could have lost support from various quarters with that move and it also clouds the results adding some unknowns, I think the elections would have been a very clear message to PTP but now it's uncertain

I also think he should go ahead and set up this peoples council and get some idea of the sort of reforms that could take place or start proposing the types of reforms and also give a solid guide to the process which must end with referendum and elections, he might just get some more support if the people can see clearly were this is headed

[webfact]

KRUNGTHAI denies granting loans for rice pledging scheme
By Digital Content

BANGKOK, Feb 3 - Thailand's state-owned KRUNGTHAI Bank's board of directors brushed aside reports that the bank is giving out loans to the caretaker government's rice-pledging scheme.

Payungsak Chartsutipol, bank director and chairman of the board of executive directors, said the board of directors had not been told by bank president Vorapak Thanyawong of loans to be issued to the rice
scheme. However, Mr Payungsak said Mr Vorapak had already rejected media reports on the matter.

Social media have widely reported on the government's attempt to push Krung Thai Bank into lending to the Bank of Agriculture and Agricultural Cooperatives (BAAC), the state's financial arm in dealing with farmers.

Mr Payungsak viewed that such reports might have stemmed from ill-intentioned persons wishing to create misunderstanding among the public. He added that although the government is the bank's major shareholder, KRUNGTHAI Bank is a listed company in the Stock Exchange of Thailand and needs transparency when it comes to its operations.

Mr Payungsak, meanwhile, said he has not been contacted by caretaker Deputy Prime Minister/Finance Minister Kittiratt Na-Ranong about the rice loans.

A meeting is taking place today among the bank's executives. It is reported that loans of Bt130 billion to the government, to be given at Bt20 billion/month, might be considered.

People's Democratic Reform Committee (PDRC)'s secretary-general Suthep Thuangsuban, meanwhile, announced on a stage rally to anti-government protesters that the group is monitoring any irregularities in
commercial banks this week and will march there for a shutdown in case any banks plan to lend to the caretaker government. (MCOT online news)


-- TNA 2014-02-03

[Gweiloman]

KRUNGTHAI denies granting loans for rice pledging scheme

By Digital Content

BANGKOK, Feb 3 - Thailand's state-owned KRUNGTHAI Bank's board of directors brushed aside reports that the bank is giving out loans to the caretaker government's rice-pledging scheme.

Payungsak Chartsutipol, bank director and chairman of the board of executive directors, said the board of directors had not been told by bank president Vorapak Thanyawong of loans to be issued to the rice

scheme. However, Mr Payungsak said Mr Vorapak had already rejected media reports on the matter.

Social media have widely reported on the government's attempt to push Krung Thai Bank into lending to the Bank of Agriculture and Agricultural Cooperatives (BAAC), the state's financial arm in dealing with farmers.

Mr Payungsak viewed that such reports might have stemmed from ill-intentioned persons wishing to create misunderstanding among the public. He added that although the government is the bank's major shareholder, KRUNGTHAI Bank is a listed company in the Stock Exchange of Thailand and needs transparency when it comes to its operations.

Mr Payungsak, meanwhile, said he has not been contacted by caretaker Deputy Prime Minister/Finance Minister Kittiratt Na-Ranong about the rice loans.

A meeting is taking place today among the bank's executives. It is reported that loans of Bt130 billion to the government, to be given at Bt20 billion/month, might be considered.

People's Democratic Reform Committee (PDRC)'s secretary-general Suthep Thuangsuban, meanwhile, announced on a stage rally to anti-government protesters that the group is monitoring any irregularities in

commercial banks this week and will march there for a shutdown in case any banks plan to lend to the caretaker government. (MCOT online news)

-- TNA 2014-02-03

I wonder who has been spreading the rumours.....

[Crushdepth]

Hmmm...who else has got big piles of money we can steal?

[retsdon]

'Another key PDRC leader also urged all protesters who have money in any bank to withdraw their money if their banks provide loans to the government..'

Haha. That's a great idea. Why not precipitate a run on the banks and push them into insolvency to add to the fun? If I were Thai I'd be in despair. The Shinawatra clan looting the country on one side and clowns like this trying to bankrupt it on the other. What a joke, really.

[harada]

[CiaranO]

Nobody is listening anymore Suthep.....go back home like the rest of your minority supporters. #defeated

Sent from my GT-I9082 using Thaivisa Connect Thailand mobile app

[Tatsujin]

KRUNGTHAI denies granting loans for rice pledging scheme

By Digital Content

BANGKOK, Feb 3 - Thailand's state-owned KRUNGTHAI Bank's board of directors brushed aside reports that the bank is giving out loans to the caretaker government's rice-pledging scheme.

Payungsak Chartsutipol, bank director and chairman of the board of executive directors, said the board of directors had not been told by bank president Vorapak Thanyawong of loans to be issued to the rice

scheme. However, Mr Payungsak said Mr Vorapak had already rejected media reports on the matter.

Social media have widely reported on the government's attempt to push Krung Thai Bank into lending to the Bank of Agriculture and Agricultural Cooperatives (BAAC), the state's financial arm in dealing with farmers.

Mr Payungsak viewed that such reports might have stemmed from ill-intentioned persons wishing to create misunderstanding among the public. He added that although the government is the bank's major shareholder, KRUNGTHAI Bank is a listed company in the Stock Exchange of Thailand and needs transparency when it comes to its operations.

Mr Payungsak, meanwhile, said he has not been contacted by caretaker Deputy Prime Minister/Finance Minister Kittiratt Na-Ranong about the rice loans.

A meeting is taking place today among the bank's executives. It is reported that loans of Bt130 billion to the government, to be given at Bt20 billion/month, might be considered.

People's Democratic Reform Committee (PDRC)'s secretary-general Suthep Thuangsuban, meanwhile, announced on a stage rally to anti-government protesters that the group is monitoring any irregularities in

commercial banks this week and will march there for a shutdown in case any banks plan to lend to the caretaker government. (MCOT online news)

-- TNA 2014-02-03

I wonder who has been spreading the rumours.....

Perhaps a concerned bank employee who doesn't want to see bank account holder's funds to be used to prop up a failed Government that can't pay back the money from the proceeds of the scheme this is supposed to bankroll for another week or two of payments?