BoT sets up committee to tackle revenue loss

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BANGKOK, 10 July 2012  – The Bank of Thailand (BoT) has set up a committee to supervise its financial status and solve the current loss of revenue.

BoT Governor Prasarn Trairatvorakul stated that in order to fix the problem of income loss, the central bank has set up a special committee to deal with the situation in compliance with the suggestion of Dr. Veerapong Ramangkul, Chairman of the BoT.

The committee, mainly comprising the BoT’s board members and executives, will be in charge of keeping a balance between the bank’s earning and spending.

Regarding the Finance Ministry’s plan to give the BoT the authority to use the remaining money in the treasury reserves to invest in financial institutions for higher interest returns, Mr. Prasarn noted that relevant laws would have to be amended first. He also suggested that the targeted financial institutions should have high liquidity and be manageable by the central bank.