sgusers7的部落格

Source: Bangkok Post, ThailandAug.存倉 09--The Bank for Agriculture and Agricultural Cooperatives (BAAC) insists it has enough liquidity to finance the next rice harvest year despite the massive amount of funds used for the past four crops, says a senior official.Executive vice-president Somsak Kangteerawat said the state-owned bank affirmed its healthy liquidity, as it set aside 90 billion baht as working capital for the pledging scheme.The BAAC has 100 billion baht in liquidity, representing 12-13% of its total deposits and at least double the Bank of Thailand's requirement of 6% of total deposits, he said.The state bank also plans to raise its deposits by 18 billion baht this fiscal year ending next March 31. Its outstanding deposits stand at 1.018 trillion baht.Though the policy rate was recently cut by 25 basis points, the BAAC has maintained its interest rate due to fierce competition from commercial banks in m自存倉bilising deposits."In light of the upcoming government megaprojects, financial institutions need to mobilise funds to ensure they can serve clients' project financing demands, and so do we," said Mr Somsak.Previously, the bank borrowed 410 billion baht from the Finance Ministry to finance past crop subsidies as approved by the cabinet.However, apart from loans, rice pledging amounts have exceeded government projections, with the BAAC serving as the government's tool to dispense the subsidy.The Finance Ministry has demanded the BAAC advance the funding for pledging expenses outside of its borrowing budget. If the advanced funding exceeds 100 billion baht, the Commerce Ministry is obliged to repay the bank once it can sell government rice stock.Copyright: ___ (c)2013 the Bangkok Post (Bangkok, Thailand) Visit the Bangkok Post (Bangkok, Thailand) at .bangkokpost.com Distributed by MCT Information Services迷你倉新蒲崗