Publication Code: BM5

Table of Contents  

Preface
List of Tables
List of Charts and Flowcharts
Abstract
Glossary

Chapter 1 Introduction

Main causes of the 1997 financial crisis
Magnitude of the crisis
Objectives and overview of the study

Chapter 2 Suspension and Closure of Finance Companies

Effectiveness of the suspensions
Steps taken after the suspensions
Key problems associated with the suspensions
End remarks

Chapter 3 Intervention in Insolvent Financial Institutions

Change in approach
Criteria used to trigger an intervention and solutions for the FIs concerned
Problems with forced mergers
Issues related to privatization of the FIs in which the authorities intervened
End remarks

Chapter 4 Recaptialization of Private Financial Institutions

Liberalization of foreign ownership
The government's capital support scheme (The August 14 Package)
Recapitalization efforts using hybrid capital
End remarks

Chapter 5 Recapitalizatiion and Restructuring of State-owned Financial Institutions

Recapitalization of Krung Thai Bank
Recapitalization of Bank Thai and the banks in which the authorities intervened and failed to be privatized
Restructuring of state-owned banks
End remarks

Chapter 6 Liquidating Assets of the Closed Finance Companies

FRA operations and the assets of the closed finance companies
Concerns over the FRA liquidation operations
Operations of AMCorp
End Remarks

Chapter 7 Legal Reform to Enhance NPL Resolution

Amendment fo the Bankruptcy Law
Establishment of the Central Bankruptcy Court
Amendment of the Code of Civil Procedures
End remarks

Chapter 8 Market-driven Approaches to NPL Resolution

NPL restructuring guidelines and NPL exit procedure
Corporate Debt Restructuring Advisory Committee
Establishement of private asset management companies
End remarks

Chapter 9 State-led Efforts in NPL Resolution

Establishment of state-owned AMCs for state-owned banks
Establishement of the Thai Asset Management Corporation
End remarks

Chapter 10 Main Lessons Learned and Remaining Challenges for the Thai Financial System

Main lessons learned
Remaining challenges for the Thai financial system
Topis for further research

References