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BOT Press Release No. 19/2021 


Amendment of the Chiang Mai Initiative Multilateralisation Agreement

The amended Chiang Mai Initiative Multilateralisation (CMIM) Agreement, which is a regional financing arrangement among the Finance Ministers and Central Bank Governors of the ASEAN member states, China, Japan and Korea (ASEAN+3) and the Monetary Authority of Hong Kong, China, came into effect on 31 March 2021. 

The key features of the amendment to the CMIM are as follows:

1. To increase the International Monetary Fund De-linked Portion from 30 percent to 40 percent of each member’s maximum arrangement amount;

2. To allow the use of members’ local currencies, in addition to the US Dollar, for CMIM financing on a voluntary and demand-driven basis within the CMIM’s total financing capacity of USD 240 billion; and

3. To address other technical issues, including those related to the London Interbank Offered Rate (LIBOR) discontinuation. 

The amendment will further enhance the effectiveness and operational readiness of the CMIM to better serve as the center of the regional safety net for Thailand and ASEAN+3 members.

Bank of Thailand
31 March 2021

For further information : International Department
Tel : +66 (0) 2283 6288
E-mail : IND-Cooperation@bot.or.th   

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About BOT
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Monetary Policy
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  • MPC Meeting Results
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Financial Institutions
  • Financial Institutions Policy Committee
  • Thailand’s Financial Institutions​
  • BOT Roles and Responsibilities
  • Financial Institutions Supervision in Practice
  • Financial Institutions Policy
  • Supervision of Other Financial Corporations
  • Supervisory Coordination
Financial Markets
  • Monetary Operations
  • Financial Market Development
  • Foreign Exchange Market
  • Foreign Reserves Management
  • Foreign Exchange Regulations
  • Thai Reference Rate and LIBOR Transition
  • Bond Investor Registration
Payment Systems
  • Payment Systems Committee (PSC)
  • Payment Systems Policy
  • Oversight of Payment Systems
  • Payment Systems Act
  • Oversight of e-Payment Service Providers
  • BOT's Payment System Services
  • Payment Systems Standards
  • Payment Systems Notification & Circulars
  • Cross-border Payment
  • Financial Technology
Statistics
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