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     -   EDITION APRIL 2018  -

Amendment to the Deposit Protection Agency Law

The Deposit Protection Agency Act (No. 2), B.E. 2560 (2017) is enacted to simplify a payout procedure for a depositor of a failed financial institution and clarify a borrowing power of the Deposit Protection Agency. The government no longer guarantees a full payment of deposits at all financial institutions (a commercial bank, a finance company and a credit foncier company). In the event that any financial institution is bankrupt, the Deposit Protection Agency will only pay a depositor up to a specified amount set forth by the Deposit Protection Agency Act, B.E 2551 (2008).

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Yours faithfully,

Narit Direkwattanachai, LLM (Cambridge)
Attorney at Law
T: 086 785 0793
E: narit@naritlaw.com
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