Thai banks to pay reduced FIDF fee

Quick Summary:

Thai banks will pay a reduced annual contribution of 0.23% of deposits to the Financial Institutions Development Fund (FIDF) for three years to help tackle household debt, Deputy Minister of Finance Paopoom Rojanasakul said on Wednesday.

An aerial view of Bangkok’s high-rise residential and office buildings in June 2024.

Banks currently must pay an annual regular fee rate of 0.46% of their deposits to the FIDF, the Bank of Thailand's (BoT) rescue arm that provides financial assistance to troubled institutions.

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Article Details

Category: EconomyBusiness

Markets: Thailand

Topics: Thai Years Banks Household Annual Debt Deposits Aerial Financial Institutions Three

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-20 @ 10:46:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: bangkokpost.com

Language: English

Article Length: 127 words

Reading Time: 1 minutes read

Sentences: 5 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bangkok Post

News ID: 23712580

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Main Topics: EconomyBusiness

Official Website: bangkokpost.com

Update Frequency: 18 posts per day

Year Established: 1946

Headquarters: Thailand

News Last Updated: 2 hours ago

Coverage Areas: Thailand

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Publisher ID: #66

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