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Thai central bank ready to provide liquidity to backstop financial system

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03/25/2020 | 10:22pm EDT
Thailand's central bank is seen at the Bank of Thailand in Bangkok

Thailand's central bank is ready to provide liquidity support to money market and daily fixed income funds affected by cash shortage in the markets, it said in a statement.

The central bank has recently set up a mutual fund liquidity facility to support the market through commercial banks as the coronavirus pandemic led to widespread disruptions in the global financial system.

Over the past week, commercial banks began adopting the facility, but there haven't been many requests for help because the Thai financial markets have become more stable and the liquidity position of mutual funds has improved from the previous week, it said.

(Reporting by by Orathai Sriring; Editing by Shri Navaratnam)

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