Title: Debt securities statistics: the Bank of Thailand's experience
Abstract: Prior to the 1997 financial crisis, most capital mobilization through debt security issuance in Thailand was undertaken by the public sector. The private corporate sector, at that time, had greatly relied on market borrowings from financial institutions (both domestic and foreign) to fulfill their financing needs. The aftermath of the crisis called for development of the debt security market to become a fund-raising alternative for the private sector. Many major policy measures were undertaken to resolve obstacles and also to create the necessary infrastructure for the development of the Thai bond market. Meanwhile, the Office of the Securities and Exchange Commission, the Stock Exchange of Thailand, the Thai Bond Market association, the Bank of Thailand (BOT), and the Ministry of Finance (MOF) deemed it necessary to issue bonds in a more consistent and active manner so as to create benchmark rates for private issuers. These concerted efforts have since significantly strengthened the role of capital raised through debt securities issuance. This paper outlines the data issues involved in debt securities statistics in Thailand and relates the BOT’s experience with building a security-by-security database.
Publication Year: 2009
Publication Date: 2009-01-01
Language: en
Type: article
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