31. Parts of the SFI supervision and regulation were recently transferred to the BoT, and
SFIs are supervised by a separate department that reports to the Assistant Governor of the
Supervision Group, same as the commercial bank supervision departments. In other words, SFI
and commercial bank regulatory and supervisory actions are decided by the same staff, following
the same procedures. Considering their significantly differing degrees of independence, it is not
unlikely that contamination seeps through and that matters arising in the SFI area spill over to the
commercial bank decision-making process, particularly because some commercial banks also have
state ownership.
32. Formal and informal arrangements for domestic and international cooperation have
been established and function well in practice. Domestic coordination at senior levels occurs
through cross directorship of the FIPC and the Three-Regulators Steering Committee. At the
working level, various working groups have been established and hold regular meetings, including
domestic supervisory colleges. These arrangements are formalized in MOUs and allow the exchange
of confidential information, based on the FIBA provisions. The foreign exposures of Thai banks are
small; nevertheless, the BoT has concluded MOUs with most host supervisors and has provided the
assessors with evidence of effective cooperation.
Methods of Ongoing Supervision (CPs 8–10, and 12)
33. The supervisory process is well established. The BoT bases its supervisory scope on a
risk-based analysis of the banks. Banks are supervised by a team of examiners under a relationship
manager (RM); the team is responsible for onsite examinations and offsite analysis. The process is
flexible, enabling the BoT to promptly respond to a changing environment by: (i) decreasing reliance
on an annual onsite examination or expanding offsite analysis and communications with banks,
resulting in ongoing monitoring; (ii) expanding the use of early warning indicators; and
(iii) incorporating the possible impact of macroeconomic trends into the supervisory scope.
THAILAND
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