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Thailand Banks May Buy Financial Fund Bonds.
Mar. 6--State banks could end up being forced to refinance short-term liabilities of the Financial Institutions Development Fund in order to avoid directly boosting the public debt.
Yesterday M.R. Pridiyathorn Devakula, the governor of the Bank of Thailand, formally announced that regulators had scrapped a plan to issue 320 billion baht in bonds to refinance the FIDF's liabilities.
Government sources say that the central bank is now pushing for state banks to buy FIDF bonds directly, with prices set either at average bank rates or based on current market yields for government bonds.
The proposal had been made by the previous government, under then-finance minister Tarrin Nimmanahaeminda. Ultimately the idea was scrapped, owing to fears of a collapse in market discipline.
The central bank last year projected that it would need to issue some 774 billion baht in bonds for the FIDF to help finance its losses incurred since the 1997 economic crisis.
These losses include the cost of bailing out depositors at ...
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- Newspaper article from: Bangkok Post (Bangkok, Thailand) March 23, 2006 700+ words
...current market conditions. The FIDF board yesterday approved the sale...said Mr Phairoj, who oversees the central bank's FIDF Management and Debt Restructuring...private offering, would also give the FIDF flexibility in the timing of any...
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...Institutions Development Fund (FIDF) is preparing to sell...shares were seized by the central bank from 56 defunct finance...Bank of Thailand's FIDF Management and Debt Restructuring...information, contact the central bank at 02-356-7121...Earlier this week, the FIDF auctioned ...
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...incurred by the central bank's Financial Institutions...incurred by the FIDF by transferring...principal paid by the central bank. The ministry estimates...on funds from the central bank to help bring down...official said. The FIDF debt totalled 1...
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...option that would allow the central bank's Financial Institutions Development...president Arun Chirachavala. The FIDF board recently approved the...the year. Reports that the FIDF would divest its stake has helped...parties to hold talks with the FIDF instead," Mr Arun said. The...
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...Friends of the Israel Defense Forces (FIDF) announced that IDF Maj. General Benny...security situation and the importance of FIDF programs for Israeli soldiers (see also Friends of the Israel Defense Forces FIDF). Sponsored by the Central Region Branch...
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FIDF Will Also Honor Glenview Business Owner Arie...The Friends of the Israel Defense Forces (FIDF) announced today that IDF Maj. General Benny...s security situation and the importance of FIDF programs for Israeli soldiers. Sponsored...
