PH, Thailand ink banking agreement

Philippine and Thai monetary authorities on Sunday inked inked a memorandum of understanding (MOU) on banking supervision, which they said would provide a “solid foundation for effective supervision of banking institutions operating in both countries”.

“The MOU sets out in greater detail the two authorities’ commitment to fostering greater information exchange and cooperation in the areas of licensing, on-site examinations, supervisory colleges, and crisis management,” the Bangko Sentral ng Pilipinas (BSP) and the Bank of Thailand said in a joint statement.