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Asia and Pacific > Thailand

You are looking at 1 - 4 of 4 items for :

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Cover FinTech Notes
Towards Central Bank Digital Currencies in Asia and the Pacific: Results of a Regional Survey
Mrs. Sarwat Jahan
,
Ms. Elena Loukoianova
,
Mr. Evan Papageorgiou
,
Ms. Natasha X Che
,
Ankita Goel
,
Mike Li
,
Umang Rawat
,
Yong Sarah Zhou
, and
Ankita Goel
Drawing on survey responses from 34 Asian economies and country case studies, this note takes stock of recent developments related to central bank digital currencies (CBDCs) and crypto assets in Asia. The survey finds that there is significant heterogeneity in terms of stage of development, but the emergence of private crypto assets has created an impetus to consider CBDCs. While most countries are engaged in research and development, with some at advanced stages of testing and pilots, very few countries are likely to issue CBDCs in the near-to-medium term, reflecting the still considerable uncertainties. Still, country experiences so far provide some key insights for others in their journey in this area.
Keywords:
Blockchain; cash; central bank digital currency; crypto asset; distributed ledger technology; payments; Asia-Pacific region; fact XI pic; fact II interest in CBDC development; fact III central banks; fact IX challenge; fact XII; Central Bank digital currencies; Virtual currencies; Digital currencies; Payment systems; Financial inclusion; Asia and Pacific; Pacific Islands; Global
Cover IMF Staff Country Reports
Thailand: Financial Sector Assessment Program: Detailed Assessment of Observance of Thailand Securities Depository (TSD) of the CPSS/IOSCO Recommendations for Securities Settlement Systems
International Monetary Fund
This paper discusses the assessment of observance of Thailand Securities Depository (TSD) of the Committee of Payments and Settlement Systems (CPSS)/International Organization of Securities Commissions (IOSCO) recommendations for securities settlement systems for Thailand. On the basis of the assessment, it is recommended that securities settlement systems should have a well-founded, clear, and transparent legal basis in the relevant jurisdiction. Confirmation of trades between market participants should occur as soon as possible after trade execution, but no later than the trade date (T+0).
Keywords:
ISCR; CR; risk management; settlement process; TSD regulation; securities lending; book entry; TSD system; way finality; TSD rule; TSD settlement fee; legal power; TSD service level; Securities; Securities settlement systems; Central counterparty clearing house; Central securities depositories; Trade balance; Global
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 IMF Policy Discussion Papers
The Payment System and Monetary Policy
Mr. Omotunde E. G. Johnson
Achieving the primary objective of price stability without unduly compromising the operational efficiency of the payment system constitutes a major problem for central banks. Routine monetary policy presumes a given institutional and technological framework, including aspects of the payment system. Such a monetary policy concerns itself with intraday and interday credit for payments settlements and with float. Liquidity shocks and panics sometimes pose an additional challenge. In recent years, major and rapid institutional and technological changes in the payment system (mainly to lower risks and augment operational efficiency) have affected the monetary policy decision-making process, particularly in the short run.
Keywords:
PDP; central bank; payment system; monetary policy; payment; market; credit facilities; market operation; A. central bank credit Policy; money multiplier; payment settlement; settlement purpose; central bank credit policy; routine monetary policy; monetary policy point of view; monetary policy transmission mechanism; payments organization; payment system reform; Payment systems; Credit; Central bank credit; Monetary operations; Large value payment systems; Global