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HISTORICAL FACTS: Baht all safe and sound | History Defined

DPA Thailand SVB United States Bonds Europe Fitch Pandemic

The DPA offers protection of 1 million baht per person per bank. (Photo: Apichart Jinakul)

While the recent banking debacle in the US and Europe sparked fears about a contagion spreading worldwide, the head of Thailand's Deposit Protection Agency (DPA) said since the agency's establishment in 2008, Thailand has never been close to requiring action to protect deposits.

DPA president Songpol Chevapanyaroj said the agency and the Bank of Thailand cooperate to prevent failures in Thailand's banking system.

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