Thailand - Assessment of Observance of the IOSCO Objectives and Principles of Securities Regulation
This is an assessment of the Securities and Exchange Commission of Thailand (SEC) and, secondarily, of certain self-regulatory organizations (SRO) that participate in the regulation of the capital markets of Thailand. This assessment was conducted...
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| Format: | Report |
| Language: | English |
| Published: |
World Bank, Washington, DC
2019
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| Online Access: | http://documents.worldbank.org/curated/en/411501571259528777/Thailand-Assessment-of-Observance-of-the-IOSCO-Objectives-and-Principles-of-Securities-Regulation http://hdl.handle.net/10986/32613 |
| Summary: | This is an assessment of the Securities
and Exchange Commission of Thailand (SEC) and, secondarily,
of certain self-regulatory organizations (SRO) that
participate in the regulation of the capital markets of
Thailand. This assessment was conducted in February, 2019 as
part of the Financial Sector Assessment Program (FSAP)
conducted jointly by the International Monetary Fund (IMF)
and the World Bank. The financial sector of Thailand shows
strong growth and is dominated by banks, which are a major
force in other components of the financial sector through
separately licensed subsidiaries. The financial system’s
assets are equal to 259 percent of GDP (February 2018), with
Thailand’s 30 commercial banks (including 15 foreign
branches or subsidiaries) holding 46 percent of financial
sector assets and eight specialized (state-owned) financial
institutions (SFIs) holding 15 percent. The three largest
commercial banks account for 46 percent of banking sector
assets, lower than that of its peer comparators. Banking
sector growth, however, has been stagnant, growing to 156
percent of GDP (2018) from 153 percent (2012). Other
segments of the financial sector have experienced higher
growth in recent years. The market capitalization of the SET
has grown to 104 percent of GDP (up from 67 percent of GDP
in 2005, and from 37 percent of GDP in 2008). Insurance
sector assets have grown from 10 percent of GDP in 2006 to
over 22 percent of GDP in 2016. |
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