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@michelle_d_ong  #MarketEdgeDiokno : Special purpose vehicle for bad assets came too late during Asian financial crisis, 5 years late at 2002- when non-performing loan ratio was already at its peak; FIST covers more including pawnshops, non bank credit card issuers | via @michelle_d_ong 

@RalfRivas  Here are some numbers from the BSP on banks' experience during the Asian financial crisis. BSP's Lyn Javier notes that the creation of special purpose vehicles helped banks recover. She also noted that non-performing assets build up over time. | via @RalfRivas  .

@RalfRivas  WHY THIS MATTERS: Bank performance is a barometer of the economy's health. When banks fall, other sectors follow. Hence, the FIST Act. During the hearing, senators have noted the experience during the 1997 Asian financial crisis. | via @RalfRivas 

Thailand’s economy sees biggest second quarter contraction since Asian financial crisis

#Thailand #GDPshrank  12.2% in Q2, the #biggestdecline  since Asian financial crisis in 1998, official data showed Monday. Mass protests spread nationwide demanding current Thai government to resign, dissolve parliament and hold new elections.

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#Thailand Q2 #economy  shrinks sharpest since Asian financial crisis

Thai economy sees biggest contraction in Q2 since 1998 Asian financial crisis

Thai economy sees biggest contraction since Asian financial crisis in second-quarter

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Thai economy sees biggest contraction since Asian financial crisis in second-quarter | Article [AMP] | Reuters

It is the most severe contraction since the second quarter of the 1998 Asian financial crisis, when GDP had sank by 12.5 per cent. #Thai_economy  #contracts  #covid19  #ThailandNews  #TheNationThailand 

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🌏Global growth has incinerated, and the numbers paint a grim picture. PH In the Philippines, GDP shrank 16.5% from a year earlier, the biggest plunge ever ID Indonesia recorded a fall of 5.3%, the most since the Asian financial crisis

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HISTORY NOTE: The last time the world has seen a simultaneous oil supply-plus-demand shock was in 1998-99 (with Saudi-Venezuela battling for market share war at the same time as the Asian financial crisis and a warm winter). Brent crude dropped then below $10 a barrel | #OOTT 

So I think a lot is riding on how the Asian markets open tonight. Amazing how many people in finance & economics are on their @TheTerminal  today. Lots of bankers in the office. This feels like one of those Sundays during the financial crisis.

B.J. Habibie, the Indonesian president who steered the nation’s economy during the tumultuous Asian financial crisis, has died aged 83

Is Turkey at risk of a 1997-8 Asian-style financial crisis? According to the numbers, yes 1/

Just published: Realizing Indonesia’s Economic Potential. The book gives a holistic view on Indonesia’s economic progress and challenges 20 years after the Asian financial crisis. Free download until the end of 2018. #Indonesia  #IMF_VTI 

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Ringgit falls to weakest level against US dollar since 1998 Asian financial crisis, with US$1 = RM4.4805

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Dr. #Hasenstab  talks about some lessons learned from the Asian financial crisis:

Black Monday! #ChinaStocks  join global panic selloff, dive 8.5%, worst since Asian financial crisis at midday

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#Malaysia's #ringgit  has tumbled to its lowest level since Asian financial crisis of the 1990s

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