Parliament of Thailand - Deposit Protection Agency Act

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Financial institutions are beneficial to the savings of the general public and are favorable to the economy of the country. At present deposits protection under the resolution of the Cabinet covers the full amount of deposits at a financial institution which imposes excessive financial obligation on the State. In addition, a suitable mechanism is still lacking. Hence, in order to reduce the State's financial obligation, it is appropriate to adopt limited protection coverage as well as to stipulate various mechanisms to protect deposits systematically. The Deposit Protection Agency Act seeks to enhance public confidence of the financial institution system that would encourage domestic savings and strengthen the stability of the financial institution system as a whole. The act is divided into several chapters, and outlines provisions on the following subjects:

1. Deposit Protection Agency's Constitution and Capital
2. Deposit Protection Agency;s Finance, Accounting and Audit
3. The Board of the Deposit Protection Agency
4. The President of the Deposit Protection Agency
5. Remuneration and Indemnity of the Deposit Protection Agency
6. Prescription on Financial Institutions
7. Deposit Protection Fund
8. Deposits under Protection
9. Liquidation of Financial Institution
10. Deposit Protection Compensation
11. Penalties

Document Details

Document Type: 
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Originating Country or Trade Block: 
Issue Status: 
Year of Document: 
2008
Date of Document: 
Wednesday, February 6, 2008
Document Authors: 
Parliament of Thailand
Language (This Document): 
English

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