BOT Launches Reporting Reform Program for Financial Institutions
BOT launched the Financial Institutions Information Reporting Reform Program. The program will integrate data for regulatory purpose and reduce redundant data reporting. The main objective is to adjust the reporting format to align with international standards. This will reduce data processing procedures and costs and increase the efficiency of reporting by financial institutions. In the first phase of the project, BOT will update the credit dataset and then later continue to expand operations to other datasets. In this regard, BOT has set up a joint working group for financial institutions to brainstorm and implement the goals. The joint working group will start to work from October 01, 2020.
Related Link (in Thai): Press Release
Keywords: Asia Pacific, Thailand, Banking, Reporting, Credit Risk, Basel, BOT
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