1 option
Thailand Financial Sector Assessment Program : Fixed Income.
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- International Monetary Fund.
- Series:
- Financial Sector Assessment Program
- World Bank e-Library.
- Language:
- English
- Subjects (All):
- Access to Finance.
- Access to Information.
- Auctions.
- Banking Sector.
- Capital Markets.
- Capital Requirements.
- Collateral.
- Commercial Banks.
- Debt.
- Debt Markets.
- Debt Restructuring.
- Domestic Debt.
- Due Diligence.
- Finance and Financial Sector Development.
- Financial and Private Sector Development.
- Financial Crisis.
- Financial Institutions.
- Financial Sector and Social Assistance.
- Fiscal Policy.
- Foreign Banks.
- Insurance.
- International Financial Institutions.
- Life Insurance.
- Monetary Policy.
- Mutual Funds.
- Private Investment.
- Public Debt.
- Risk Management.
- Securities Markets Policy & Regulation.
- Standards and Financial Reporting.
- Transaction Costs.
- Yield Curve.
- Local Subjects:
- Access to Finance.
- Access to Information.
- Auctions.
- Banking Sector.
- Capital Markets.
- Capital Requirements.
- Collateral.
- Commercial Banks.
- Debt.
- Debt Markets.
- Debt Restructuring.
- Domestic Debt.
- Due Diligence.
- Finance and Financial Sector Development.
- Financial and Private Sector Development.
- Financial Crisis.
- Financial Institutions.
- Financial Sector and Social Assistance.
- Fiscal Policy.
- Foreign Banks.
- Insurance.
- International Financial Institutions.
- Life Insurance.
- Monetary Policy.
- Mutual Funds.
- Private Investment.
- Public Debt.
- Risk Management.
- Securities Markets Policy & Regulation.
- Standards and Financial Reporting.
- Transaction Costs.
- Yield Curve.
- Other Title:
- Thailand Financial Sector Assessment Program
- Place of Publication:
- Washington, D.C. : The World Bank, 2008.
- System Details:
- data file
- Summary:
- The debt market in Thailand has made important strides since the financial crisis of 1997. The Thai government has made significant progress in building an orderly yield curve and is beginning to establish some benchmarks. However, more needs to be done if the government is to achieve its objective of enhancing liquidity in the market. In particular, liquidity in the secondary market would be enhanced by reducing the frequency of auctions, while increasing the size of each individual offering. Such a change will require primary dealers to change their mode of operation from effectively a broking operation to the provision of greater underwriting and market making services; consequently a review of the primary dealer system is warranted. Nevertheless, prospects for development of the government securities market will be constrained overall by the likely limited financing need going forward, unless the authorities can secure some additional flexibility to restructure the existing portfolio or otherwise establish more meaningful benchmarks. The corporate debt market suffers from too few issuers of corporate debt and too little diversity of debt offerings. This reflects, in part the limited corporate need for long-term financing, the ready availability of alternative financing by commercial banks at competitive rates, and regulatory policies that emphasize investor protection by imposing substantial limitations on the ability of institutional investors to purchase anything but investment grade debt, which effectively precludes issuance of below investment grade debt.
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.