BOT Announces Additional Measures in Response to COVID-19 Pandemic
BOT published accounting guidelines on the temporary relief measures for businesses that provide assistance to debtors affected by COVID-19 crisis. The key areas in which temporary relief measures have been provided include measurement of anticipated credit losses, disclosures, classification of debtors, and other accounting guidelines. BOT also announced a waiver of compliance with certain operational and supervisory regulations of BOT during the COVID-19 situation. These include rules for classification and provisioning of special financial institutions, preparation of financial statements of specialized financial institutions, and regulations to supervise information technology risks of financial institution. Additionally, BOT has issued recommendations for commercial banks to strengthen funds to address the impact of COVID-19.
BOT has issued the following recommendations for commercial banks to:
- Prepare a fund management plan for the next 1 to 3 years for submission to the commercial bank board for consideration
- Omit the payment of interim dividends from the operating results in 2020 because the future performance still faces high uncertainty
- Not to repurchase shares or debt instruments that are included as tier 1 capital or tier 2 capital before maturity
With respect to granting loans, BOT published guidelines on the exemption of registration fees arising from granting loans to enterprises in accordance with the Emergency Decree that provides financial assistance to enterprises affected by the COVID-19 pandemic. It announced measures to assist retail customers (phase 2) amid pandemic, provided guidelines on providing financial assistance measures to enterprises affected by the COVID-19 pandemic, and issued notification on delaying of debt settlement for enterprises affected by COVID-19 pandemic.
Related Links (in Thai)
- Notification on Accounting Guidelines
- Notification on Waiver of Compliance with BOT Regulations
- Notification on Recommendations to Banks
- Notification on Guidelines on Exemption of Registration Fees
- Notification on Guidelines on Providing Financial Assistance
- Notification on Delaying Debt Settlement
- Notification on Measures to Assist Retail Customers (Phase 2)
Keywords: Asia Pacific, Thailand, Banking, Securities, Accounting, COVID-19, SME, Credit Risk, Operational Risk, Financial Assistance, Regulatory Capital, BOT
Featured Experts

María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer

Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.

Patrycja Oleksza
Applies proficiency and knowledge to regulatory capital and reporting analysis and coordinates business and product strategies in the banking technology area
Previous Article
GLEIF Publishes Version 1.2 of Entity Legal Forms Code ListRelated Articles
FED Issues Further Details on Pilot Climate Scenario Analysis Exercise
The U.S. Federal Reserve Board (FED) set out details of the pilot climate scenario analysis exercise to be conducted among the six largest U.S. bank holding companies.
US Agencies Issue Several Regulatory and Reporting Updates
The Board of Governors of the Federal Reserve System (FED) adopted the final rule on Adjustable Interest Rate (LIBOR) Act.
ECB Issues Multiple Reports and Regulatory Updates for Banks
The European Central Bank (ECB) published an updated list of supervised entities, a report on the supervision of less significant institutions (LSIs), a statement on macro-prudential policy.
HKMA Keeps List of D-SIBs Unchanged, Makes Other Announcements
The Hong Kong Monetary Authority (HKMA) published a circular on the prudential treatment of crypto-asset exposures, an update on the status of transition to new interest rate benchmarks.
EU Issues FAQs on Taxonomy Regulation, Rules Under CRD, FICOD and SFDR
The European Commission (EC) adopted the standards addressing supervisory reporting of risk concentrations and intra-group transactions, benchmarking of internal approaches, and authorization of credit institutions.
CBIRC Revises Measures on Corporate Governance Supervision
The China Banking and Insurance Regulatory Commission (CBIRC) issued rules to manage the risk of off-balance sheet business of commercial banks and rules on corporate governance of financial institutions.
HKMA Publications Address Sustainability Issues in Financial Sector
The Hong Kong Monetary Authority (HKMA) made announcements to address sustainability issues in the financial sector.
EBA Updates Address Basel and NPL Requirements for Banks
The European Banking Authority (EBA) published regulatory standards on identification of a group of connected clients (GCC) as well as updated the lists of identified financial conglomerates.
ESMA Publishes 2022 ESEF XBRL Taxonomy and Conformance Suite
The General Board of the European Systemic Risk Board (ESRB), at its December meeting, issued an updated risk assessment via the quarterly risk dashboard and held discussions on key policy priorities to address the systemic risks in the European Union.
FCA Sets up ESG Committee, Imposes Penalties, and Issues Other Updates
The Financial Conduct Authority (FCA) is seeking comments, until December 21, 2022, on the draft guidance for firms to support existing mortgage borrowers.