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Amendment to reduce NPLs in the system.
Byline: Parista Yuthamanop
Feb. 4--Amending the Asset Management Corporation law would significantly reduce the number of non-performing loans (NPLs) within the banking system, according to Bank of Thailand officials.
Tamnong Dasri, secretary of the central bank's Corporate Debt Restructuring Advisory Committee (CDRAC), said that under the proposed legal change, the state-owned Asset Management Corp (AMC) would be able to purchase foreclosed property and bad assets.
The AMC was established in 1997 as an entity to compete in auctions of liquidated assets from 56 finance companies ordered closed by the government.
Mr Tamnong said the ...
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