BoT licenses joint ventures to handle banks’ bad debts
Effort based on long-term outlook
The Bank of Thailand announced conditions to establish a joint venture asset management company (JV AMC) to support financial institutions managing bad debt for the long term as the pandemic persists.
The conditions to create a JV AMC are effective from Thursday and financial institutions can apply for a licence for the next three years.
A licence is valid for 15 years, said Suwannee Jatsadasak, senior director of the Bank of Thailand.
The central bank forecasts the impact of the…
