ตลาดเงินและทุนกำลังมีปัญหาเพราะเมื่

Capital and money markets are having a problem, because when it comes to Thailand's capital market system. Major issues that I would like to grab the opening talks in that this is a problem which can not be seen clearly no rush to quick edit only pages, but it is an important issue in modern structures, I believe that the important institutional performance and the stability of the capital market in the long run, it is.Problems in the operation and management of the institutions, capital markets, this problem is very important and is a major constraint (CONSTRAINT) of the policy of the capital market, including the policy of competitors in the business of institutional capital markets despite the large capital market institutions to go 2-3 times during tight money. Last year the funding crisis last year 2526 2522 and ngahaeng yard faced Bank operations during which amount of rain-2527 (1984) 2528 (1985) Lake, this has been modified slightly. But I think we still have some problems with this are coming. The Institute of the domestic capital market, there are also differences, Thailand is another very effective operation and management (including the quality and nature of professional ethics executive) The difference like this. When all capital market institutions must operate under the same rules and systems. It is not the institution projects to curb the strong capital markets. There was a progressive idea can do so much because the regulations which stuck to the capital market institutions must also not stable.In the area of capital market institutions themselves. Not able to offer services that will meet the needs of our customers. The operation costs are higher than expected. Best customers would bear the costs through higher capital market. There is no opportunity to select tools appropriate capital market. In considering the interests of the nation in various capital market institutions. Unable to play a role that is beneficial to economic development has been accelerated. Mikhail repeated official nam sometimes have to protect or even sugar to absorb, the capital market institutions, these recreational performance.ปัญหาความไม่ยืดหยุ่นของอัตราดอกเบี้ยแม้จะมีการผ่อนคลายข้อกำหนดเกี่ยวกับอัตราดอกเบี้ยระยะยาวไปบ้างแล้ว แต่ภาพโดยรวมของโครงสร้างอัตราดอกเบี้ยในประเทศไทยก็ยังกล่าวได้ว่า ไม่มีความยืดหยุ่นคล่องตัวเท่าที่ควร ตัวอย่างเช่น ในช่วงที่สภาพคล่องสูงอัตราดอกเบี้ยเงิฝากก็จะปรับตัวลงค่อนข้างช้าขณะที่อัตราดอกเบี้ยเงินกู้จะปรับตัวลงเร็วกว่ามาก ดังเช่นเมื่อ 2 ปีก่อน อัตราดอกเบี้ยเงินกู้ INTERBANK ต่ำกว่าอัตราดอกเบี้ยเงินฝากเกือบตลอดเวลา ในทางตรงกันข้าม เมื่อถึงช่วงที่สภาพคล่องตึงตัว อัตราดอกเบี้ยเงินฝากจะปรับตัวอย่างรวดเร็ว ขณะที่อัตราดอกเบี้ยเงินให้กู้จะปรับตัวได้ถึงระดับหนึ่งเท่านั้น เพราะจะติดปัญหาเพดานสูงสุดตามกฎหมายอุปสรรคที่ขัดขวางการปรับตัวของอัตราดอกเบี้ยมีอยู่หลายประการด้วยกัน มาตรฐานการจัดการของแต่ละสถาบันตลาดทุนที่แตกต่างกันก็เป็นสาเหตุสำคัญอันหนึ่ง ซึ่งทำให้บางสถาบันตลาดทุนดำเนินนโยบายที่ไม่สมเหตุสมผลทางธุรกิจ นอกจากนั้น ก็คงจะเป็นความไม่ยืดหยุ่นของกฎหมายเอง ที่มีการกำหนดเพดานสูงสุดไว้ ซึ่งเปลี่ยนแปลงลงได้ยากFinancial problems have not developed as we should be quite a money market development. Despite efforts to develop market (INTERBANK OFFER RATE BANGKOK) BIBOR. but the size of the market for it. Make the investment or the loan in money market is not liquid. Whether in terms of investment/loan period. The types of instruments that are traded in the money market. The interest rate is changed according to the actual condition of the market.The problem in this way Make capital market institutions are having trouble adjusting their liquidity. Buy phat lad bond dependency (which is, of course, no size limits depending on the intervention of the Bank of Thailand), or otherwise, they need to adjust their liquidity. Want to buy/sell foreign currency, would be faced with Exchange rate fluctuations.The money market has not developed as much as it should, as this is a barrier to make the lack of standardized reference interest rate (the REFERENCE RATE), the Institute of capital market interest rates could not be determined, for example, that should be good. Because of the lack of interest that reflect the real needs of the market to.ปัญหาขอบข่ายการดำเนินธุรกิจธนาคารพาณิชย์ ปัจจุบันนี้คงเห็นชัดแล้วว่าการแข่งขันในตลาดตลาดทุนกำลังสูงขึ้นเรื่อย ๆ ซึ่งจะเป็นตัวบีบให้ธนาคารพาณิชย์ได้รับส่วนต่างของัตราดอกเบี้ยน้อยลง ธนาคารพาณิชย์อยู่ในฐานะเสียเปรียบ หากจะยังทำธุรกิจธนาคารดั้งเดิม (รับฝากแล้วปล่อยกู้) อยู่ ทางออกอย่างหนึ่ง ซึ่งธนาคารในต่างประเทศได้ทำมาแล้ว ก็คือหันไปทำธุรกิจประเภท INVESTMENT BANKING หรือ MERCHANT BANKING มากขึ้น เพื่อแสวงหารายได้ประเภทค่าธรรมเนียมมาชดเชย รายได้ดอกเบี้ยที่มีแนวโน้มลดน้อยถอยลง ยกตัวอย่างการทำธุรกิจคัสโดเตียนใบหุ้นของแบงก์พาณิชย์ ความจริงกฎหมายแบงก์ไม่ได้ระบุไว้ว่าทำได้หรือไม่เพราะเป็นวิวัฒนาการล่าสุดที่เกิดขึ้นไม่นานมานี้ แม้ความจริงในที่สุดจะทำได้ก็ตาม แต่เป็นคำอนุญาตให้ของแบงก์ชาติเฉพาะเรื่องนี้เท่านั้นI think these new services are likely to avoid the expiration of such evolution. Now, there is a good chance the economic growth rate is higher, the difference of interest rates ever lower. Last year, it's moving higher again and 2529, fewer problems, but in the long run, it will probably have to think, because they related to the stability of the capital market by institutional basis. Modifications to a commercial bank can do business have wider will be the one that helps the heart to answer this problem.Regulatory capital market problems. Now, foreign investment has a role in the capital market, such as we had during the first nine months of this year. Money from abroad to buy imported stocks (INVESTMENT PORTFOLIO) to approximately 35000 million. For more than a year before, is already one of the most unprecedented access times. The overseas has increased, the role is one important reason that makes the stock market booming and we grew very fast.However, what is the problem, however, is cautious satisfaction we are committed, but in modern years.

Money and capital are in trouble because when it comes to capital market system of Thailand big issue that I would like to put forward the talks here. A problem which could not be seen clearly. And the urgent need to provide immediate remedies. It is a major structural problem. I saw how important to the performance and stability of the capital market institutions in the long run, it is
the efficiency of the operations and the management of institutional capital market issue is a very important one. And restrictions (CONSTRAINT) of the market capitalization of the official policy. Including the implementation of the policy of competition in the capital market institutions, even if they have to adapt their institutions to the capital market in a big way in the last 2-3 years when money is tight funding crisis in 2522 and 2526 on the banks of the yard. Having trouble conducted during 2527-2528, which played the heck this problem has been solved to some extent already. But I think we still have this problem is more reasonable. Capital Market institutions in Thailand are also very different in terms of efficiency in operation. And management standards (Including quality, ethics and business professionals. Administrators) Differences like this. When capital market institutions must operate under the same system and rules. It is not a drag on the capital market institutions that have strong capabilities with breakthrough ideas. Can not do much because of congestion at the various regulations which also takes into account the institutional capital market was not stable
in the institution's own capital markets. Inability to offer services that will meet customer needs fully. Operating costs higher than they should be. The customer is obliged to pay a higher cost of capital. No chance to choose the appropriate capital market instruments as they should. Considering the broad interests of the nation in various capital market institutions can not have a useful role to accelerate economic development as it should be. Besides, sometimes the authorities also need to protect nurtured. Or even fix a slack performance of the capital markets again, these
issues are not flexible interest rates despite the relaxed requirements on long-term interest rates and then some. However, the overall structure of interest rates in the United States, he also said. No flexible as it could be, for example, in the highly liquid interest rate financial deposits will decline relatively slowly, while lending rates will decline much faster as the two years before the interest rate INTERBANK below. Most of the time deposit rates. On the other hand When the liquidity crunch. Deposit rates will adjust rapidly. While interest rates on loans to adapt to a certain level only. It will be the maximum legal obstacles that hinder the adjustment of interest rates, there are several reasons. The management of each institution's capital markets are different, it is a major cause. This makes some institutional capital markets business policy that does not make sense unless it would be rigor of the law itself. Has set a maximum ceiling. This change can be difficult to
issue money market has not developed as it should be, we are still relatively underdeveloped financial markets. Despite efforts to develop markets BIBOR (BANGKOK INTERBANK OFFER RATE), but the size of the market was very limited. Make investments Or borrowing in the money market is not flexible. Whether in terms of investment / loans. Types of instruments to be traded on the market. Interest rate changes do not follow the true condition of
a problem like this. Capital Market institutions have to adjust their liquidity. Dependence on treasury bonds (Which has a size limit depends on the intervention of the Bank of Thailand) or otherwise have to adjust their liquidity. To exchange the They are faced with the volatility of the exchange rate as
money market has not developed as expected as this is an obstacle to the lack of interest rate is the reference standard (REFERENCE RATE) of the capital market can not determine the interest rate of the service as well. to Because of a lack interest rates that reflect the real needs of the market to
the scope of the banking business. This would clearly see that the competition in the market, capital markets are rising, which will force the banks have been asking me the difference between interest rates down. Banks were in an unfavorable position If you still do traditional banking business. (Deposits and loans) are one solution. The foreign banks have already done. It is turned to the business sector MERCHANT BANKING INVESTMENT BANKING or more to seek compensation fee income categories. Interest income is likely diminished. An example of the business model of Bank Indonesia certificates Tien Commerce. In fact, the law stated that the Bank is not done or not it is the latest evolution occurred shortly. The truth will eventually be given. But the central bank is allowed only on this
, I think that these new services are likely inevitably evolve as this. Incidentally, the economy is better now A high growth rate, the difference in interest rates have dropped considerably since 2529, moved up again. And make it look a little down. But in the long run would be to think well. It involves the stability of the institutional capital market is quite basic. Modify the banks can do business more widely would be a key one to help answer this problem,
the problem of market regulation and supervision. Now foreign investment to play a role in our capital markets, more like in the first nine months of this year. Overseas funds have brought to acquisition (PORTFOLIO INVESTMENT) to about 35,000 million baht over last year, which was already a record to a double. The role of foreign visitors has increased, as this is a major reason that our stock market is booming. And expanded very rapidly
, however, What the problem was cautioned. But we are heading in the fighting.

The money market and the capital was in trouble when talking about the system of capital market in a big problem. I want to จะหยิบยก to mention here. A problem that can be seen is not clear. And not urgent to solve.I see that is important to the efficiency and stability of the capital market institutions long-term is
.Performance problems in operation and management standards of Institute of capital market this problem very important, and constraints (CONSTRAINT). The importance of the policy of the capital market2-3 times in the tight money last year 2522 capital crisis last year 2526 and commercial banks Lang of the problems in operations during the 2527-2528 Le goose this is modified to do so.Institute of thecapital market also have differences are more in terms of efficiency and management standards (which includes the quality. Ethics and professional management.) the difference like this.