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Asia and Pacific > Thailand

You are looking at 1 - 9 of 9 items for :

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Cover IMF Staff Country Reports
Thailand: Financial Sector Assessment Program-Technical Note-Risk Assessment
International Monetary Fund. Monetary and Capital Markets Department
This technical note on the risk assessment for Thailand discusses that the Thai banking system shows a substantial resilience to severe shocks. The solvency stress tests indicate that the largest banks can withstand an adverse scenario broadly as severe as the Asian financial crisis. While three banks would deplete their capital conservation buffer (CCB) under the adverse scenario, recapitalization needs would be minimal. A battery of complementary sensitivity stress tests, which allows to cover in more detail certain risk factors, also confirmed the overall picture of a resilient baking system: no particular vulnerability emerged from the analysis of the bond portfolio to an increase in government and corporate spreads, exposure to foreign exchange risk, and concentration risk in the loan portfolio, with the possible exception of one entity with a particular concentration on single-name exposures. The liquidity stress test on investment funds (IFs) showed that they would be able to withstand a severe redemption shock and its impact on the banks and the bond market would be limited.
Keywords:
ISCR; CR; investment funds; central bank; fund family; liquid asset; fixed income; interest rate; mutual fund; banking sector; foreign exchange; sensitivity analysis; Stress testing; Mutual funds; Commercial banks; Currencies; Liquidity requirements; Global
Cover Policy Papers
Guidance Note on the Assessment of Reserve Adequacy and Related Considerations
International Monetary Fund
operational guidance to staff on reserve adequacy discussions in the IMF’s bilateral and multilateral surveillance. It is based on the views presented in the policy paper Assessing Reserve Adequacy—Specific Proposals and the related Board discussion. The note addresses key issues related to Staff’s advice on the assessment of the adequacy of reserves and related items, including answering the following questions: What is the expected coverage of reserve issues at different stages of the bilateral surveillance process (Policy Note, mission, and Staff Report)? Which reserve adequacy tools best fit different economies based on their financial maturity, economic flexibility, and market access? What do possible reserve needs in mature markets relate to, and how can their adequacy be assessed? How can reserve adequacy discussions for emerging and deepening financial markets be tailored and applied to better evaluate reserve levels in: (i) commodity-intensive economies; (ii) countries with capital flow management measures (CFMs); and (iii) partially and fully dollarized economies? What reserve adequacy considerations hold for countries with limited access to capital markets? How can metrics for these economies be tailored to evaluate their reserve needs? How should potential drains on reserves be covered? What are the various measures of the cost of reserves for countries with and without market access?
Keywords:
PP; cost; opportunity cost; economy; yield; Ara; reserve adequacy; dollarized economy; financial market; adequacy assessment; foreign exchange; Assessing reserve adequacy (ARA); Reserve positions; International reserves; Monetary base; Global
Cover Japan Administered Account for Selected IMF Activities (JSA)--Annual Report for Fiscal Year 2009
Japan Administered Account for Selected IMF Activities (JSA)--Annual Report for Fiscal Year 2009
International Monetary Fund

Abstract

This paper provides a brief description of the IMF and its activities, focusing in particular on its technical assistance (TA) activities. The report then describes in greater detail the Japan Administered Account for Selected Fund Activities (JSA)—including its scope and objectives, the size and uses of the TA contribution, and assessments of its TA activities and scholarship programs—with a focus on fiscal year (FY) 2009. Japan has provided grant contributions to support IMF technical assistance to member countries since 1990. In 1997, the scope of the administered account was widened to allow for financing other IMF activities in Asia and the Pacific, carried out through the IMF Regional Office for Asia and the Pacific in Tokyo. Regular consultations are held between the IMF and the Japanese authorities; the most recent formal meeting took place in April 2009. The use of JSA resources is flexible. JSA funds can be used to cover the cost of short- and long-term TA experts and other costs associated with conducting seminars and workshops, such as room rental fees.

Keywords:
MISC RPT; MISC; Accounts-Japan Financial Statement Fy2009; Japan; audit of the JSA; annual audit; certificate of completion; fund activity; Budget planning and preparation; Bank supervision; Tax administration core functions; Asia and Pacific; Africa; Central Asia; Middle East; Middle East and Central Asia; TA activity; review mission; IMF TA; scholarship program; IMF expert; IMF customs expert; IMF department; IMF economist; Anti-money laundering and combating the financing of terrorism (AML/CFT); Capital markets; Financial Sector Assessment Program; Caribbean
Cover IMF Staff Country Reports
Thailand: Financial Sector Assessment Program: Detailed Assessment of Observance of CPSS Core Principles for Systemically Important Payment Systems
International Monetary Fund
This paper focuses on a detailed assessment of observance of the Committee on Payment and Settlement Systems (CPSS) core principles for systemically important payment systems in Thailand. This assessment covers the Bank of Thailand Automated High-Value Transfer Network (BAHTNET), which is a real-time gross settlement (RTGS) system. The assessment reveals that there is no explicit legislation for payment systems in Thailand. However, the legal basis for BAHTNET and payment transfers executed in this system is defined by a set of laws, regulations, and contractual arrangements.
Keywords:
ISCR; CR; BAHTNET IT; payment; BAHTNET regulation; BOT oversight responsibility; BOT objective; BOT oversight function; BOT oversight policy; BOT self-assessment; BOT web; request BAHTNET participant; access criteria; governance arrangement; business feature; BAHTNET terminal; BAHTNET observance; BAHTNET access rule; BAHTNET participant; BAHTNET network; Trade balance; Payment systems; Liquidity risk; Core Principles for Systemically Important Payment Systems; Legal support in revenue administration; Global
Cover Policy Papers
Evaluation of Technical Assistance on Bank Supervision by Long-Term Experts in Asia
International Monetary Fund
Technical Assistance Delivery by Long-Term Experts are an increasingly important vehicle for delivering TA in all financial sector areas. In recent years, the amount of MCM TA provided through LTEs has been about 28 staff years annually, or 36 percent of MCM’s total TA field delivery (including RTACs). This share has recently risen as a result of the steady increase in external financing and the cutback in MCM’s own resources for capacity building in the context of the recent downsizing. Indeed, the share of LTEs (who are mostly externally financed) in total planned MCM TA jumped to 41 percent in fiscal year 2009 (May-April). As these factors are expected to persist, the importance of LTEs as a means of delivering TA will likely increase further.
Keywords:
PP; Fund LTEs; supervision; evaluation; country; staff; LTE program; terms of reference; contribution LTES; LTE terms; evaluation team; supervision department; LTE involvement; Bank supervision; Consolidated banking supervision; Basel Core Principles; Risk-based supervision; Asia and Pacific; Middle East
Cover IMF Working Papers
Are Emerging Market Countries Learning to Float?
Ms. Dalia S Hakura
The paper finds that exchange rate flexibility in emerging market countries has increased over the past decade. This "learning to float" appears to have involved a strengthening of monetary and financial policy frameworks aimed at directly addressing the key vulnerabilities that give rise to the "fear of floating." The results in the paper suggest that the trend toward greater exchange rate flexibility, alongside a strengthening of banking supervision, has afforded emerging market countries more monetary policy independence.
Keywords:
WP; exchange rate; exchange rate regime; emerging market; country; monetary policy
Cover IMF Working Papers
Loan Review, Provisioning, and Macroeconomic Linkages
International Monetary Fund
Loan review is a process routinely used by banks to assess the current value of loan portfolios. Provisioning is a technique to translate loan review results into the balance sheet. It allows for ongoing valuation of loans. Both are core elements of credit risk management and important to prudential oversight. As illustrated in this paper, valuation feeds into indicators of overall bank soundness and key macroprudential indicators. Country practices and recent moves to more forward-looking models are surveyed. Macroeconomic linkages are highlighted, including tax treatment of provisions, variables of the monetary survey, and procyclical aspects of loan valuation systems.
Keywords:
WP; loan valuation; loan review; restructured loan; bank supervisor; bank behavior; loan takedown; loan value; Nonperforming loans; cyclical bank behavior; capital ratios; loan quality; loan provisioning; Loans; Capital adequacy requirements; Loan classification; Credit; West Africa
Cover IMF Working Papers
Using Credit Ratings for Capital Requirementson Lending to Emerging Market Economies: Possible Impact of a New Basel Accord
Mr. Christian B. Mulder
and
Brieuc Monfort
The Basel Committee on Banking Supervision has proposed linking capital requirements for bank loans to ratings by commercial credit rating agencies. Estimates for 20 emerging market economies show that sovereign ratings react procyclically to crisis indicators. Ratings deteriorate if the real effective exchange rate depreciates, in contrast with the positive effect on overall debt service capacity depreciations are normally supposed to have. Simulations show that linking capital requirements to ratings would have drastically increased these requirements during the crisis periods after decreasing them in the run up to the crises. Simulations suggest modest efficiency gains of using sovereign credit ratings for capital requirements on emerging market lending.
Keywords:
WP; rating agency; capital requirement; transfer risk rating; rating behavior; Rating agencies; capital requirements; economic crises; emerging markets; rating model; shadow rating; sovereign rating; Emerging and frontier financial markets; Loans; Basel Core Principles; Real effective exchange rates; Bank credit; Africa; Asia and Pacific
Cover IMF Working Papers
Offshore Banking: An Analysis of Micro- and Macro-Prudential Issues
Mr. Luca Errico
and
Mr. Alberto Musalem Borrero
The paper takes a closer look at offshore banking—a pervasive practice that has played a role in recent crises. Offshore banking is an increasingly attractive alternative to the sometimes heavily regulated financial markets of emerging economies. From a microeconomic vantage point, offshore banks seem to exploit the risk-return tradeoff by being more profitable than onshore banks, and in many instances also more leveraged. Risks stemming from offshore activities may be easily transmitted onshore with systemic consequences. Current prudential and supervisory frameworks are broadly adequate for risk management if effectively and universally implemented.
Keywords:
WP; offshore bank; parent bank; offshore establishment; onshore bank; cross-border assets; Offshore Banking; Cross-Border Capital Flows; Banking Problems; Financial Crises; Prudential Regulations; Banking Supervision; cross-border asset; Offshore financial centers; Consolidated banking supervision; International banking; Deposit insurance; Foreign banks; Caribbean; Asia and Pacific; Middle East; Europe