The Bank of Thailand (BOT), along with the Thai Bankers' Association and the International Banking Association, announced the decision to provide debt moratorium for additional two months to help debtors and businesses affected due to government restrictions amid COVID-19 pandemic. Debtors can contact credit institutions to express their intention to request assistance from July 19, 2021. In addition, BOT issued a guideline for the adoption of blockchain technology in financial services. The guideline provides a framework for implementing blockchain technology to develop financial innovations while ensuring risk management. The guideline addresses the application of blockchain technology, blockchain governance, information technology risk management, and legal risk management. Business operators under the supervision of BOT are required to apply this guideline from June 04, 2021.
- Press Release on Moratorium (in Thai)
- Press Release on Blockchain Guideline (in English)
- Guideline (PDF in Thai)
Keywords: Asia Pacific, Thailand, Banking, Blockchain, COVID-19, Regulatory Capital, Loan Repayment, Credit Risk, Fintech, Loan Moratorium, Regtech, BOT
Previous ArticleSRB Publishes Approach to Prior Permissions for Eligible Liabilities
The Office of the Superintendent of Financial Institutions (OSFI) published an update on the discussion paper that intended to engage federally regulated financial institutions and other interested stakeholders in a dialog with OSFI, to proactively enhance and align assurance expectations over key regulatory returns.
The European Commission (EC) published a report summarizing responses to the targeted consultation on the supervisory convergence and the single rulebook in the European Union (EU).
The European Central Bank (ECB) published its opinion on a proposal for a regulation on European green bonds, following a request from the European Parliament.
The Advisory Scientific Committee (ASC) of the European Systemic Risk Board (ESRB) published a report that explores the expected impact of digitalization on provision of financial and banking services, and proposes policy measures to address the risks stemming from digitalization.
The Hong Kong Monetary Authority (HKMA) is consulting on the draft Financial Institutions (Resolution) Ordinance (Cap. 628), or FIRO, Code of Practice chapter on liquidity and funding in resolution, until March 14, 2022.
The Swedish Financial Supervisory Authority (FI) announced that the capital adequacy reporting as at December 31, 2021 must be done by February 11, 2022.
The European Banking Authority (EBA) announced that the guidelines on the reporting and disclosure of exposures subject to measures COVID-relief measures shall continue to apply until further notice.
The Central Bank of the Philippines (BSP) issued communications covering developments related to online lending platforms, open finance framework and roadmap, and on the expected regulations in the area sustainable finance.
The Board of Governors of the Federal Reserve System (FED) published the final rule that amends Regulation I to reduce the quarterly reporting burden for member banks by automating the application process for adjusting their subscriptions to the Federal Reserve Bank capital stock, except in the context of mergers.
The European Banking Authority (EBA) published its assessment of risks through the quarterly Risk Dashboard and the results of the Autumn edition of the Risk Assessment Questionnaire (RAQ).