Notification from Bank of Thailand: Disclosure of Debt Securities Holding Information
Introduction
The Bank of Thailand has issued a notification regarding the disclosure of debt securities holding information for resident ultimate beneficial owners. This notification aims to improve the compilation of balance of payments and international investment position statistics.
Key Points
- Disclosure and Reporting: Ultimate beneficial owners, global custodians, international brokers, local custodians, depositories, and registrars are required to disclose and report debt securities holding information to the Bank of Thailand.
- Reporting Template and Practices: Reports must be prepared according to the reporting templates and practices prescribed by the Bank of Thailand on its website or electronic system.
Information to be Reported
- Debt Securities Holding Information for Depositories:
- Outstanding balances at the end of each working day
- Settlement transactions at the end of each working day
- Segregated Securities Account Information for Depositories: Within one working day from receipt of the account number from the Bank of Thailand
- Debt Securities Holding Information for Registrars: Periodically or as informed by the Bank of Thailand
Request for Waiver
If an entity is unable to disclose or report the required information, they must submit a request for waiver to the Bank of Thailand directly or through a local custodian.
Transitional Provision
- Depositories: Must prepare and submit resident ultimate beneficial owners’ information from June 1, 2022 onwards.
- Local Custodians: Who were granted case-by-case approvals before the effective date of this notification must disclose and report information according to the reporting templates and practices prescribed in this Notification starting from a specified date.
Conclusion
The Bank of Thailand’s notification aims to improve the disclosure and reporting of debt securities holding information for resident ultimate beneficial owners, which is essential for compiling balance of payments and international investment position statistics.