BOT, banks ready with back-up plans

Bank of Thailand Governor Prasarn Triratvorakul said yesterday that the central bank has a videoconference link with executives of local and foreign banks in Thailand to establish emergency plans.
Since the central bank’s head office in Bangkok may be submerged up to one metre, it would use its cheque-clearing centre at Surawong, which can keep out water to a height of 2.40 metres.
The central bank plans to use its Note Printing Works in Nakhon Pathom’s Nakhon Chai Si district in case the Note Printing Works on Tha Kasem Road in Bangkok was affected by floods.
In a videoconference every evening, the central bank and all banks review the latest flood scenario for Bangkok and their resolutions include ensuring that cheque clearing is available at their branches.
“Banks must facilitate financial transactions nationwide at their branch and ATM networks in Thailand, while finance companies must reserve cash for the next three months to cover the demand of customers nationwide,” Prasarn said.
Krungthai Bank plans to move all operating systems to its Disaster Recovery Centre in Chon Buri and to Khao Yai in Nakhon Ratchasima if its head office in the Nana area of Sukhumvit is affected by flooding.
Kasikornbank has disaster recovery centres on Chaeng Wattana, Phaholyothin and Rat Burana roads to ensure it can process the financial transactions of customers.
Siam Commercial Bank has increased its cash reserves to accommodate customer demand in unaffected and affected areas.
Its head office tower is 2.7 metres above Ratchayothin Road. It has piled up sandbags and sealed all risk zones around the building to prevent flood waters from entering.
In the case of an emergency, it will use its Chid Lom branch as its disaster recovery centre to serve customers.