AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Byline: Darana Chudasri
Sep. 3--The Bank of Thailand yesterday banned local banks from lending securities to non-residents under a new measure aimed at clamping down on currency speculation.
Banks have been allowed to operate securities borrowing and lending of debt instruments since 2000. The new measure, which took effect on Aug 26, expands short-selling and borrowing and lending activities to equities as well.
But banks "are not allowed to lend securities to non-resident counterparts to be in line with Thai baht speculative prevention measures", the central bank said in an announcement.
The baht traded wildly through the day on ...