Jump to content
BANGKOK
ChipButty

What would happen if a Bank goes down?

Recommended Posts

19 minutes ago, Vigilante said:

What happens if a bank goes under?

1. Govt re-imburses acct holders up to 5 mil (for now)

or...

2.Reimburses but not up to  the total amount (haircut)

or

3.No re-imbursement

 

Ok..I covered all 3 potential senarios

It will all depend on how deep this crisis gets imo

This is from Bangkok Bank:

https://www.bangkokbank.com/en/Personal/Tips-and-Insights/Save-and-Invest/Practical-advice-on-deposit-protection

  • Like 1

Share this post


Link to post
Share on other sites
On 3/27/2020 at 4:10 PM, Max69xl said:

I don't think the below can be relied upon, in the current circumstances.

 

"From August 11, 2019 Thai Baht Deposits are protected under the Deposit Protection Agency Act up to a maximum of 5 million baht per one depositor per financial institution until August 10, 2020."

Share this post


Link to post
Share on other sites
Posted (edited)

delete

Edited by saengd

Share this post


Link to post
Share on other sites
On 3/27/2020 at 3:29 PM, Max69xl said:

This thread is about what happens if a bank goes down. BoT and every Thai bank follows international banking regulations and until August this year up to 5 million baht is covered,then it's 1 million baht. Only very ignorant people, pessimistic people and conspiracy theorists (you can find all three categories here on TV) are worried about this and can't sleep. 

Who is providing this cover?  Is it the Thai Government?

Share this post


Link to post
Share on other sites

Did any Thai banks fail in 97. Seems if push comes to shove the baht can just be devalued to cover losses. 

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...