BoT reveals that no "Thai bank" has direct transactions with "SVB", finding that investing in Fintech - Startup worldwide is less than 1% of capital funds.
On March 13, 66, Ms. Suwannee Jesadasak, Assistant Governor Financial Institution Supervision Line The Bank of Thailand or "BoT" clarified that in the case of Silicon Valley Bank or "SVB" that encountered problems, which the Federal Deposit Insurance Corporation (FDIC) ordered to close down business on Friday, March 10, 2566,
This is partly due to deposits and lending being concentrated among clients of venture capital funds, fintech companies, and start-up companies. US interest rates that has increased in the past This makes it difficult or more expensive for SVB's customers to raise capital. Therefore, the deposit at SVB must be withdrawn for business use. And some groups withdrew their deposits to invest in assets with higher returns, causing SVB to sell bonds at much lower prices to increase liquidity, resulting in losses, affecting the bank's position and confidence. Until it had to be regulated by the FDIC as reported.
From data on the global financial market Overall banking stock prices fell and hedging prices increased due to concerns over spread to other banks. Especially groups related to technology businesses and cryptocurrencies. However, the US authorities Announcement to repay all depositors in full and establish a Bank Term Funding Program to release liquidity to the banking system. This should help reduce the chance that the situation will spread and have a significant impact on the stability of the US financial institution system. The BoT will closely monitor the situation and any impacts.
For the situation in Thailand The impact of the SVB case on the stability of the Thai financial system is limited. This is because there are no Thai banks that have direct transactions with SVB and the overall transaction volume of the Thai bank group in Fintech and Startup around the world is less than 1% of the bank group's capital. Importantly, it was found that Thai banks No holding of digital assets Meanwhile, commercial banks' business groups hold digital assets at a low level of approximately 200 million baht. The BoT would like to emphasize that it has strict supervision of transactions involving digital assets and venture capital, such as deducting investments in coins. out of Tier 1 capital (CET1) in all cases, as well as setting investment ceilings and risk supervision in various areas to prevent the impact of connections between banking groups on people's deposits.
The value of the baht Recently, it has strengthened in line with regional currencies. Investors later predicted that the above event would cause the US Federal Reserve to Delay the increase in policy interest rates. causing the US dollar to depreciate quickly which is the uncertainty of US monetary policy It will remain an important factor affecting the global financial market and the volatility of the baht in the next period.
