{
  "title": "Thailand: Financial Sector Assessment Program: Technical Note: Fixed Income Markets",
  "publication": "IMF Staff Country Reports, May 15, 2009",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/thailand-financial-sector-assessment-program-technical-note-fixed-income-markets-22942",
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  "summary": "This technical note focuses on fixed income markets for Thailand. The note recommends that Thailand should begin an orderly transition from merit-based regulation of corporate issuers and institutional investors to a disclosure-based regulatory system that opens the debt market to a larger and more diverse pool of corporations. A series of regulatory changes should be considered, including removing the limitations on below investment grade debt offerings, expanding the size of private placement offerings, and reducing the regulatory burdens on issuers of short-term commercial paper.",
  "publishDate": "2009-05-15",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Summary",
      "content": "- Focus: fixed income markets for Thailand.\n- Main policy recommendation: begin an orderly transition from merit-based regulation of corporate issuers and institutional investors to a disclosure-based regulatory system that opens the debt market to a larger and more diverse pool of corporations.\n- Recommended regulatory changes include:\n  - removing the limitations on below investment grade debt offerings;\n  - expanding the size of private placement offerings;\n  - reducing the regulatory burdens on issuers of short-term commercial paper."
    },
    {
      "heading": "Findings and thematic emphasis",
      "content": "- The note centers on broadening access to Thailand’s debt market through a shift in regulatory approach from merit-based to disclosure-based regulation.\n- Emphasis on enabling a larger and more diverse pool of corporate issuers and institutional investors to participate in the fixed income market.\n\n---\n\n Content in this bundle\n\n- cr09151 - Executive Summary\n  - cr09151 - Executive Summary (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr09151 - Executive Summary (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2016/12/31/thailand-financial-sector-assessment-program-technical-note-fixed-income-markets-22942"
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    "Published: May 15, 2009",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451836905.002",
    "Focus: fixed income markets for Thailand.",
    "Main policy recommendation: begin an orderly transition from merit-based regulation of corporate issuers and institutional investors to a disclosure-based regulatory system that opens the debt market to a larger and more diverse pool of corporations.",
    "Recommended regulatory changes include:",
    "The note centers on broadening access to Thailand’s debt market through a shift in regulatory approach from merit-based to disclosure-based regulation.",
    "Emphasis on enabling a larger and more diverse pool of corporate issuers and institutional investors to participate in the fixed income market.",
    "**_cr09151 - Executive Summary**"
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