BOT News No. 17/2063 on Credit Assistance Measures for Debts Affected by COVID-19

BOT News No. 17/2063

Subject: Credit support measures for debtors affected by COVID-19

    Mr Wirathai Santiprapob, Governor of the BOT, revealed that after the BOT issued measures to assist debtors on February 28, 2020, financial institutions have made progress in providing assistance to debtors, up from approximately 30,000 debt balances of 234,000 million baht on March 18, 2020 to 156,000. Debts of 310,000 million baht on March 23, 2020.

The BOT continuously monitors the situation of the COVID-19 epidemic. By coordinating and discussing closely with commercial banks Specialized financial institution And other financial service providers through 9 associations and clubs * agreeing that the effects of the COVID-19 spread has spread to people and businesses in all sectors Must cooperate urgently so that Thailand can overcome this difficult situation Agreed together to set a minimum measure to help debtors using credit card products. Personal loans, hire purchase, leasing, housing loans And SMEs loans which have not been overdue more than 90 days (NPL), effective from the repayment period on 1 April 2020, can be summarized as follows:

The above measures are only a minimum aid measure. Each financial service provider also has additional assistance programs that are better than the minimum measures for debtors in the business sector. And people who are directly affected, such as in the tourism industry, hotels, aviation, or related businesses. Debtors can find more information on the website or call the call center of each financial institution.

Debtors receiving assistance under this measure Will still have a history of repayment as normal debtors in the credit bureau database But the debtor still has an obligation to repay the debt in accordance with the conditions agreed with the financial service providers

For the debtor who pays the debt as usual according to the original conditions Financial service providers may provide special benefits or conditions as appropriate. To support debtors with good financial discipline

However, financial service providers must communicate the minimum assistance under this measure. And additional assistance programs for specific groups to inform debtors thoroughly Including explaining to the debtors the benefits Guidelines for assistance And obligations in debt repayment in accordance with the measures to assist new debtors

Bank of Thailand

25 March 2020

More information: Credit Risk Team Financial Institutions Supervision Policy Department

Phone: 0 2283 6929

E-mail: FPGCreditRiskTeam@bot.or.th