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But investors and economists hope the new organization, the Thai Asset Management Corporation, will help revive banking.
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But keeping interest rates in the cellar to revive banks has significant costs, Mr. Whalen said.
The bank also pledged to announce new, unconventional steps to try to revive bank lending and activity in May.
He has tried to revive Bank One's credit card business, which operates under the name First USA, after profits fell a couple of years ago.
Both countries' actions conform to a growing sense in Europe that the best way to revive banks is to put them on the tightest possible leash.
The British central bank said on Thursday that it would fully carry out a £75 billion asset-purchase program over the next two months, seeking to reassure investors that it was committed to steps to revive bank lending.
But lawmakers in both parties complained that the $700 billion aid plan, known as the Troubled Asset Relief Program, or TARP, had yet to revive bank lending in many parts of the country.
Geithner managed to revive bank liquidity and get a lot of regulations written.
With the idea of postal banking becoming more mainstream in the U.S., the head of the largest union of postal workers says he plans to make a revived banking service part of his union's upcoming contract talks with the U.S. Postal Service.
To make the revived banks profitable, the new owners are turning the old banks inside out.
The Obama administration seems to understand that reviving bank lending is key to economic recovery.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com