Central bank to tighten control on extension of personal and credit card loans

[rooster59]

Central bank to tighten control on extension of personal and credit card loans

 

The central bank says it’s planned issuance of stricter regulation to control personal and credit card loan extended by commercials won’t affect the general pubic much.

 

The stricter measure will only apply with new applicants for loans and credit cards.

 

This was revealed by the Bank of Thailand’s assistant governor in charge of monetary policy group Jaturong Jantarangs.

 

He elaborated on the bank’s planned introduction of stricter measures to regulate personal and credit card loans by lowering the maximum permissible ceiling while assuring the public that the bank would ensure the least amount of difficulties for the public.

 

He went on to clarify that the new policy will apply only to new loan applicants and not existing credit card and loan holders.

 

Full story: http://englishnews.thaipbs.or.th/central-bank-tighten-control-extension-personal-credit-card-loans/

 

 

-- © Copyright Thai PBS 2017-07-15

[trogers]

What reason was given to make things difficult for NEW applicants?

 

And this same reason is not applicable to existing card and loan holders?

[hobz]

1 hour ago, trogers said:

What reason was given to make things difficult for NEW applicants?

 

And this same reason is not applicable to existing card and loan holders?

It's not hard to imagine that there has been alot of unpaid debt and that the companies that finance the companies that finance the credit card have realized that many of the defaultees should never had received loan/credit. 

Just speculation and imagination on my part. I have no facts.

[Watchful]

Tightening credit controls is an excellent idea when bad loans are on the increase. It may prevent the need for those "bank bailouts" which continue in Greece, and Italy. Right now while the bailouts pump billions into Europe, things are going well. It's like a "sugar high". 

 

It must one day end, however, and these things never, ever end well.

Edited July 15, 2017 by Watchful

[trogers]

9 hours ago, hobz said:

It's not hard to imagine that there has been alot of unpaid debt and that the companies that finance the companies that finance the credit card have realized that many of the defaultees should never had received loan/credit. 

Just speculation and imagination on my part. I have no facts.

I wonder how these new regulations would apply to Govt financial institutions lending to civil servants. Many debtors in this sector are having as much as 75% deducted from their monthly salaries.

[hobz]

On 7/16/2017 at 10:19 AM, trogers said:

I wonder how these new regulations would apply to Govt financial institutions lending to civil servants. Many debtors in this sector are having as much as 75% deducted from their monthly salaries.

Before or after tea money? Sorry i cant offer a serious reply because im interested in economy but i have studied far too little, and thus dont even understand your questio.

 

(Im mostly researching what it means that my home country sweden has 0% interest rate right now...<deleted> right?)