On Apr. 17, Thai CB proposed regulatory guides regarding supervision.
Thai CB proposed three regulatory guidelines for the supervision of systemically important retail payment system (SIRPS) as well as their related services.
List of Proposed Guidelines
Guidelines are Criteria no. 1 for assessment of SIRPS, Criteria no. 2 for the supervision of retail money transfer business between users of systems classified as SIRPS.
In addition, guideline titled Criteria no. 3 for the supervision of services via SIRPS.
Outline of Guidelines
Criteria no. 1 specifies quantitative factors used in assessing retail payment systems that are significant by Thai CB, such as market share, and cross-border connectivity.
In addition, it specifies the qualitative factors including payment system infrastructure.
Thai CB will announce the list of SIRPS who are subject to additional regulations.
Criteria no. 2 sets out additional criteria for operators of retail money transfer systems between service users of systems classified as SIRPS to comply with in 3 areas.
These three areas include good governance, risk management and security, and protection and promotion of competition among service users of the system.
Criteria no. 2 outlines supervision of services provided by SIRPS including preparation of business agreements (scheme rules), establishing a mechanism for operations that allows users of the system to participate, provide opinions on business agreements.
In addition, Criteria no. 3 provides for aspects including the establishment of a working group with the aim of screening determination of fees charged by system users.
Effectiveness
The comment period for this consultation closes on May 2, 2025.
