large. this robust performance reflects a number of common responses that have been undertaken by the banks to manage the increase in credit and market risks. the responses include parring down of investment in foreign assets, lowering the loan growth target in line with the economy, strengthening risk management and credit standards, paying close attention to liquidity, and acting early to assist clients to adjust to the impact of the shock. these measures have helped banks to contain credit risk, and so far we have seen the gross npl ratio rising slightly to 5. 5 percent in march from 5. 3 percent in december. as for the bank of thailand, our approach to bank supervision during this time of global stress is to ensure that the banking system is healthy, and the system continues to operate fully to support the economy with good risk management and adequate capital. so far, this is very much the picture we are seeing. at end of march, the bis ratio for capital adequacy for thai banking system is 14. 9 percent, of which the level for tier - one capital is 11. 8 percent. on the issue of credit extension, to ensure adequate flows of credit to the economy, our approach has been to rely on market mechanism by encouraging greater competition amongst banks with regard to interest rates adjustment through a process of close consultation and dialogue. the recent round of bank ’ s lending rate adjustment following the last mpc meeting is a case in point. in addition, to help banks better manage the increased credit risk, a credit guarantee scheme backed by government funding has been set up to promote sme lending by banks. also, to help resolve problems related to bank lending, the bank of thailand has set up a customer - call center to look into problems related to loans application and approval between customers and banks. going forward, the slowing economy will continue to put pressure on the asset quality of banks. therefore, managing credit risk will continue to be an overriding focus of thai banks this year. to do this effectively, banks need to have in place both a strong capital base and a good risk management system, both of which have been strengthened significantly in the past years in line with basel ii and international best practices. therefore, this should enable our banks to manage risk adequately going forward while supporting the economy. let me now turn to the second topic which is the medium - term issue of financial sector reform. although the thai financial sector has proven resilient amidst the global crisis, reform of our financial sector needs to continue to

human resource. such infrastructure is crucial for banks so that they can attain greater efficiency and more effective risk management at a lower cost. i will not have time today to dwell on the details of the plan, let me just say that the plan is now complete and is currently being considered by the finance ministry, and is scheduled to come into effect this year. it is our hope that this continuing momentum of reform will help expand the competitiveness and the growth of the thai financial sector and the economy in the years to come. i probably have used up my allotted time. again, i want to thank euromoney for the invitation. it has been a pleasure and thank you for your attention.