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Thailand plans to set up 3-billion-USD liquidity support fund

Thailand has introduced measures that include a liquidity support fund worth 70-100 billion THB (2.2-3.2 billion USD) to reduce riska in the debt market amid the spread of the COVID-19 outbreak.
Thailand plans to set up 3-billion-USD liquidity support fund ảnh 1Illustrative image (Photo: VNA)

Bangkok (VNA) - Thailand has introduced measures that include a liquiditysupport fund worth 70-100 billion THB (2.2-3.2 billion USD) to reduce riska inthe debt market amid the spread of the COVID-19 outbreak.

Earlier,the Bank of Thailand (BoT) offered special credit facilities to shore upliquidity in money market funds or daily fixed income funds through commercialbanks.

Aconsortium led by the Thai Bankers' Association has set up a 70-100 billion THBCorporate Bond Stabilisation Fund (CBSF) for investment in high-quality andnewly-issued bonds by the corporates which cannot fully roll over maturingcorporate bonds.

Centralbank governor Veerathai Santiprabhob told a press conference on March 22 thatcommercial banks could use investment grade bonds as collateral for borrowingmoney from the central bank’s lending facility.

Thesemeasures are expected to provide liquidity and help the normal functioning ofthe financial market and help build investors' confidence, he said./.
VNA
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