Publication:
Thailand Financial Sector Assessment Program: Fixed Income

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dc.contributor.authorInternational Monetary Fund
dc.contributor.authorWorld Bank
dc.date.accessioned2017-09-08T18:46:37Z
dc.date.available2017-09-08T18:46:37Z
dc.date.issued2008-04
dc.description.abstractThe debt market in Thailand has made important strides since the financial crisis of 1997. The Thai government has made significant progress in building an orderly yield curve and is beginning to establish some benchmarks. However, more needs to be done if the government is to achieve its objective of enhancing liquidity in the market. In particular, liquidity in the secondary market would be enhanced by reducing the frequency of auctions, while increasing the size of each individual offering. Such a change will require primary dealers to change their mode of operation from effectively a broking operation to the provision of greater underwriting and market making services; consequently a review of the primary dealer system is warranted. Nevertheless, prospects for development of the government securities market will be constrained overall by the likely limited financing need going forward, unless the authorities can secure some additional flexibility to restructure the existing portfolio or otherwise establish more meaningful benchmarks. The corporate debt market suffers from too few issuers of corporate debt and too little diversity of debt offerings. This reflects, in part the limited corporate need for long-term financing, the ready availability of alternative financing by commercial banks at competitive rates, and regulatory policies that emphasize investor protection by imposing substantial limitations on the ability of institutional investors to purchase anything but investment grade debt, which effectively precludes issuance of below investment grade debt.en
dc.identifierhttp://documents.worldbank.org/curated/en/452831468117867439/Thailand-Fixed-income-technical-note
dc.identifier.doi10.1596/28231
dc.identifier.urihttps://hdl.handle.net/10986/28231
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectACCESS TO INFORMATION
dc.subjectACTIVE DEBT
dc.subjectAMOUNT OF DEBT
dc.subjectASIAN BOND MARKETS
dc.subjectAUCTION
dc.subjectAUCTIONS
dc.subjectBANK BONDS
dc.subjectBANK LOANS
dc.subjectBANKING SECTOR
dc.subjectBANKING SYSTEM
dc.subjectBENCHMARK BOND
dc.subjectBENCHMARK BONDS
dc.subjectBENCHMARK STOCKS
dc.subjectBID
dc.subjectBIDS
dc.subjectBOND
dc.subjectBOND AUCTION
dc.subjectBOND AUCTIONS
dc.subjectBROKER
dc.subjectBROKERS
dc.subjectBUDGET DEFICIT
dc.subjectCAPITAL MARKETS
dc.subjectCAPITAL REQUIREMENTS
dc.subjectCASH FLOW
dc.subjectCASH MANAGEMENT
dc.subjectCENTRAL BANK
dc.subjectCENTRAL BANK BILLS
dc.subjectCOLLATERAL
dc.subjectCOMMERCIAL BANK
dc.subjectCOMMERCIAL BANK LENDING
dc.subjectCOMMERCIAL BANKS
dc.subjectCOMMERCIAL CODE
dc.subjectCOMMERCIAL LOAN
dc.subjectCOMMERCIAL PAPER
dc.subjectCOMPETITIVE BIDDING
dc.subjectCORPORATE BOND
dc.subjectCORPORATE BOND ISSUES
dc.subjectCORPORATE BOND MARKET
dc.subjectCORPORATE BOND TRANSACTIONS
dc.subjectCORPORATE BONDS
dc.subjectCORPORATE DEBT
dc.subjectCORPORATE DEBT MARKET
dc.subjectCORPORATE DEBT SECURITIES
dc.subjectCUSTODY
dc.subjectDEBT
dc.subjectDEBT EXCHANGES
dc.subjectDEBT ISSUANCE
dc.subjectDEBT ISSUE
dc.subjectDEBT ISSUES
dc.subjectDEBT MARKET
dc.subjectDEBT OFFERING
dc.subjectDEBT OFFERINGS
dc.subjectDEBT OUTSTANDING
dc.subjectDEBT REPAYMENTS
dc.subjectDEBT RESTRUCTURING
dc.subjectDEBT SECURITIES MARKET
dc.subjectDEBT SECURITY
dc.subjectDERIVATIVE
dc.subjectDERIVATIVE PRODUCT
dc.subjectDERIVATIVE PRODUCTS
dc.subjectDERIVATIVES
dc.subjectDEVELOPMENT BANK
dc.subjectDISCLOSURE REQUIREMENTS
dc.subjectDOMESTIC BANKS
dc.subjectDOMESTIC DEBT
dc.subjectDOMESTIC MARKET
dc.subjectDUE DILIGENCE
dc.subjectEXCHANGE COMMISSION
dc.subjectEXTERNAL DEBT
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL MARKET
dc.subjectFISCAL POLICY
dc.subjectFIXED INCOME
dc.subjectFIXED INCOME MARKETS
dc.subjectFIXED INCOME SECURITIES
dc.subjectFIXED RATE BONDS
dc.subjectFLOATING RATE
dc.subjectFLOATING RATE NOTE
dc.subjectFOREIGN BANKS
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN INVESTORS
dc.subjectFUND MANAGERS
dc.subjectFUTURES
dc.subjectFUTURES CONTRACT
dc.subjectFUTURES EXCHANGE
dc.subjectGOVERNMENT BOND
dc.subjectGOVERNMENT BOND MARKET
dc.subjectGOVERNMENT BOND MARKETS
dc.subjectGOVERNMENT BONDS
dc.subjectGOVERNMENT DEBT
dc.subjectGOVERNMENT DEBT MARKET
dc.subjectGOVERNMENT SAVINGS
dc.subjectGOVERNMENT SECURITIES
dc.subjectGOVERNMENT SECURITIES AUCTIONS
dc.subjectGOVERNMENT SECURITIES MARKET
dc.subjectHOLDINGS
dc.subjectILLIQUID MARKET
dc.subjectILLIQUID SECURITIES
dc.subjectILLIQUID SECURITY
dc.subjectINDIVIDUAL INVESTORS
dc.subjectINSTITUTIONAL INVESTOR
dc.subjectINSTITUTIONAL INVESTORS
dc.subjectINSTRUMENT
dc.subjectINSURANCE
dc.subjectINSURANCE COMPANIES
dc.subjectINSURANCE COMPANY
dc.subjectINTEREST RATE
dc.subjectINTEREST RATE FUTURES
dc.subjectINTEREST RATE RISK
dc.subjectINTEREST RATE SWAP
dc.subjectINTEREST RATE SWAPS
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL FINANCIAL INSTITUTIONS
dc.subjectINTERNATIONAL SETTLEMENT
dc.subjectINTERNATIONAL SWAPS
dc.subjectINVENTORIES
dc.subjectINVENTORY
dc.subjectINVESTMENT CAPITAL
dc.subjectINVESTOR BASE
dc.subjectINVESTOR PROTECTION
dc.subjectISSUANCE
dc.subjectISSUANCE OF BONDS
dc.subjectLEGAL PROHIBITIONS
dc.subjectLEGAL PROVISIONS
dc.subjectLIFE INSURANCE
dc.subjectLIFE INSURANCE COMPANIES
dc.subjectLIQUID MARKET
dc.subjectLIQUIDITY
dc.subjectLOAN
dc.subjectLOAN APPLICATIONS
dc.subjectLOCAL GOVERNMENTS
dc.subjectLONG BOND
dc.subjectLONG-TERM DEBT
dc.subjectLONG-TERM INTEREST
dc.subjectLONG-TERM INTEREST RATE
dc.subjectMARKET BENCHMARKS
dc.subjectMARKET CAPITALIZATION
dc.subjectMARKET DEEPENING
dc.subjectMARKET FOR GOVERNMENT SECURITIES
dc.subjectMARKET INFRASTRUCTURE
dc.subjectMARKET INTERMEDIARIES
dc.subjectMARKET MAKING
dc.subjectMARKET PARTICIPANTS
dc.subjectMARKET SHARE
dc.subjectMARKET TRADES
dc.subjectMARKET TRANSPARENCY
dc.subjectMARKET-MAKING
dc.subjectMATURITIES
dc.subjectMATURITY
dc.subjectMEDIUM TERM NOTES
dc.subjectMONETARY FUND
dc.subjectMONETARY POLICY
dc.subjectMONEY MARKET
dc.subjectMONEY MARKETS
dc.subjectMUTUAL FUND
dc.subjectMUTUAL FUND INDUSTRY
dc.subjectMUTUAL FUNDS
dc.subjectNATIONAL TREASURY
dc.subjectOPEN MARKET
dc.subjectPENSION
dc.subjectPENSION FUND
dc.subjectPORTFOLIO
dc.subjectPRIMARY DEALER
dc.subjectPRIMARY DEALER SYSTEM
dc.subjectPRIMARY DEALERS
dc.subjectPRIMARY MARKET
dc.subjectPRIMARY MARKETS
dc.subjectPRIVATE INVESTMENT
dc.subjectPRIVATE PLACEMENT
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC DEBT INSTRUMENTS
dc.subjectPUBLIC DEBT MANAGEMENT
dc.subjectPUBLIC DEBT MARKET
dc.subjectPUBLIC DEBT SECURITIES
dc.subjectPUBLIC OFFERING
dc.subjectREGIONAL BOND MARKET
dc.subjectREGULATORY AUTHORITIES
dc.subjectREGULATORY FRAMEWORK
dc.subjectREGULATORY SYSTEM
dc.subjectREGULATORY SYSTEMS
dc.subjectREPO
dc.subjectREPO FACILITY
dc.subjectREPO MARKET
dc.subjectREPO MARKETS
dc.subjectREPO TRANSACTIONS
dc.subjectRESERVES
dc.subjectRETAIL INVESTORS
dc.subjectRETURN
dc.subjectRETURNS
dc.subjectRISK CAPITAL
dc.subjectRISK MANAGEMENT
dc.subjectSECONDARY BOND MARKETS
dc.subjectSECONDARY DEBT
dc.subjectSECONDARY DEBT MARKET
dc.subjectSECONDARY MARKET
dc.subjectSECONDARY MARKET ACTIVITY
dc.subjectSECONDARY MARKET LIQUIDITY
dc.subjectSECONDARY MARKET TRADING
dc.subjectSECONDARY MARKETS
dc.subjectSECURITIES EXCHANGE
dc.subjectSTOCK EXCHANGE
dc.subjectTAX
dc.subjectTAX POLICIES
dc.subjectTOTAL DEBT
dc.subjectTRADING
dc.subjectTRADING SYSTEM
dc.subjectTRANSACTION
dc.subjectTRANSACTION COSTS
dc.subjectTREASURY
dc.subjectTREASURY BILL
dc.subjectTREASURY BILLS
dc.subjectTURNOVER
dc.subjectUNDERWRITERS
dc.subjectUNIFORM PRICE
dc.subjectUNIFORM PRICE AUCTION
dc.subjectVALUATION
dc.subjectWAREHOUSE
dc.subjectYIELD CURVE
dc.titleThailand Financial Sector Assessment Programen
dc.title.subtitleFixed Incomeen
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.crossref.titleThailand Financial Sector Assessment Program
okr.date.disclosure2013-07-09
okr.date.doiregistration2025-05-07T12:20:22.579791Z
okr.doctypeEconomic & Sector Work::Financial Sector Assessment Program
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/452831468117867439/Thailand-Fixed-income-technical-note
okr.guid452831468117867439
okr.identifier.externaldocumentum000445729_20130709151705
okr.identifier.internaldocumentum17978151
okr.identifier.report79251
okr.importedtrue
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/452831468117867439/pdf/792510WP0Thail0Box0377370B00Public0.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.countryThailand
okr.sectorFinance
okr.themeFinancial and private sector development :: Standards and financial reporting
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicFinance and Financial Sector Development::Mutual Funds
okr.topicFinance and Financial Sector Development::Financial Sector and Social Assistance
okr.topicFinance and Financial Sector Development::Securities Markets Policy & Regulation
okr.unitFinance & Markets - GP - IBRD (GFMDR)
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