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Hua Hin
Tuesday, May 21, 2024

Thai banks are unaffected by US bank closures

Traisulee Trisoranakul, Deputy Government Spokesperson, stated that after US banks closed over the past week, causing volatility in global and financial markets, Prime Minister Gen. Prayut Chan-o-cha assigned the government’s economic team to closely monitor the situation and determine whether it will have an impact on the Thai economy.

According to linked organizations, no Thai banks or financial institutions have stakes in or transactions involving the two banks under question. Given that they each have a different business, the impact on the American financial economy is expected to be small. They do not provide as many services as regular commercial banks. Furthermore, the US government has already begun measures to resolve the problem as soon as possible.

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