Lessons from Asian Financial Crisis 1990s: Indonesia and Thailand bear the brunt

In March 1997, at a banking conference in Thailand, the authors identified two major Thai banks that were showing signs of distress.
The following day, the Bangkok Post reported that one of the two banks identified was downgraded by Moodys. That was the start of what is now known as the tom-yam effect. In this article the authors used their EAGLES benchmark to anlayse the performance of the banking sector and in three Asian countries.
Vong, J. et al (1997). Indonesia and Thailand bear the brunt: what went wrong? Bankers Journal Malaysia. No. 104 Dec - Jan 1998 pp 4-7.