THAILAND
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INTERNATIONAL MONETARY FUND
strategic plan and a publicly-available annual report could be developed in
which the OIC would
report on progress in meeting the goals and objectives set out in the strategic plan.
•
Updating licensing and suitability requirements to ensure clarity, consistency, and
timeliness of licensing decisions and procedures. Suitability requirements
for all real-person
beneficial owners of insurers should also be strengthened, particularly with respect to identifying
all such individuals and assessing their financial capability and integrity.
D. Financial Market Infrastructures
26. Thailand has a well-developed payment, clearing, and settlement infrastructure (Annex
III). The Bank of Thailand Automated High-Value Transfer Network (BAHTNET) is the real-time
interbank gross payment and settlement system operated by the BoT and is the backbone of the
infrastructure where the final payments of various markets are settled. The Thailand Securities
Depository (TSD) is the sole central securities depository and the securities
settlement system for
government securities, corporate bonds, and equities. The TSD is a fully owned subsidiary of the SET.
27. While the BAHTNET and the TSD have sound operation and comprehensive
management frameworks, there is room for further improvements. In particular:
•
BAHTNET. Further improvements include: (i) preventing participants from pledging their own
securities
as collateral; (ii) implementing concentration limits; (iii) conducting independent
review and test of the haircut methodology; and (iv) developing an automated
collateral
management system.
•
TSD. Further enhancements include: (i) protecting security balances of its depositors and
customers in the event
of TSD going bankrupt; (ii) establishing beneficial ownership rights of
securities balances of depositors and investors; and (iii) strengthening risk management on
general business and investment risks, recovery tools, and wind-down plans.
Do'stlaringiz bilan baham: 
