The Bank of Thailand (BOT) provides monthly data on the amount of bonds outstanding. Government bonds include Thailand Government Bonds, Treasury bills, Monetary Authority bonds (including BOT bonds and Financial Institutions Development Fund bonds), State-Owned Enterprise (SOE) bonds, and Specialized Organization bonds. Corporate bonds include debentures and foreign bonds.

A summary of total bonds outstanding by issuer class as registered with The Thai Bond Market Association (ThaiBMA) is available at the ThaiBMA link below as well as data on the face value of individual issues within specific asset classes.

The Bond Electronic Exchange (BEX) of the Stock Exchange of Thailand (SET) provides a summary of outstanding bonds traded on the exchange.

Trading volumes of government and corporate bonds are available through the Thai Bond Market Association (ThaiBMA) link below. Only ThaiBMA-registered bonds are included. Government securities include government bonds, treasury bills, SOE bonds and state agency bonds. Corporate bonds are also included. The value of bonds traded is reported at market prices.

ThaiBMA compiles detailed monthly accumulated-trading data, which include price ranges, turnover, and most-actively traded securities.

SET market statistics include monthly trading data of corporate bonds (referred to as debentures) listed at the BEX, a SET-operated bond exchange.

ThaiBMA’s website provides a full list of Thai government benchmarks, including ThaiBMA-determined government yield curves in tabular and graphical form, zero coupon yield curve, and historical yield curves. A spread matrix for SOE bonds is also available. The data are expressed as a credit spread over the interpolated government benchmark yield. Historical yield curve statistics are available.

ThaiBMA also creates composite corporate benchmarks based on the credit ratings of all registered issuers. The data are expressed as a credit spread over the interpolated government yield reflecting average term to maturity or duration of the corporate sample size.

BOT uses inflation targeting to drive monetary policy. On 17 January 2007, the Monetary Policy Committee (MPC) set the 1-day repurchase rate as the new key policy rate. The 1-day repurchase rate replaced the 14-day repurchase rate, which was previously used by the MPC. BOT also established an End-of-Day Liquidity Adjustment Window for overnight lending and borrowing to financial institutions at the policy rate +/- 50 basis points.

All repurchase transactions are done through BOT, using bilateral repurchase transactions with primary dealers. The repurchase market, which is run by BOT, helps manage liquidity for financial institutions and the rates reflect BOT risks rather than those of other transaction participants.

The minimum lending rate (MLR), which is used for businesses, is slightly above the minimum overdraft rate (MOR). Most commercial banks use a slightly higher minimum retail rate (MRR) for general borrowers. The MLR, MOR, and MRR are all based on a bank’s cost of funds, sourced either from deposits or from interbank borrowing.

The Bangkok Interbank Offered Rate (BIBOR) is the reference rate for short-term interest rates in the Bangkok interbank market. BIBOR is calculated from the average of rates commercial banks use to lend to other banks.