CROSS-BORDER SUPERVISORY COOPERATION REGIONAL DEVELOPMENTS Presented by Ms Teo Swee Lian For 6th Annual International Seminar on Policy Challenges for the Financial Sector 7 - 9 Jun 2006
Presentation Agenda Regional Forum Regional Co-operation Regional Training
Regional Forum
Regional Forum - EMEAP Executives’ Meeting of East Asia-Pacific Central Banks and Monetary Authorities (EMEAP) A cooperative organization of central banks and monetary authorities of eleven economies - Australia, China, Hong Kong, Indonesia, Japan, Korea, Malaysia, New Zealand, Philippines, Singapore and Thailand Primary objective is to strengthen the cooperative relationship among its members
Regional Forum - EMEAP IT Directors’ Meeting 3 Working Groups WG on Payment and Settlement Systems WG on Financial Markets WG on Banking Supervision IT Directors’ Meeting
Working Group on Banking Supervision Focus on 3 key objectives:- Leveraging on mutual experiences and enhancing cooperation among members Facilitating the adoption of international standards for banking supervision and financial system stability in the region Contributing to the development of international banking supervision standards
Working Group on Banking Supervision 2 key areas of focus Basel II Implementation Macro-surveillance 5 interest groups External credit assessment institutions (ECAIs) Operational risk Macro-surveillance framework Stress-testing of financial institutions Basel II home-host issues
Working Group on Banking Supervision Basel II Survey and Toolkit paper on Supervisory Colleges Submitted to Basle Committee Circulated to other regional supervisory groups Drafted discussion paper on recognition of ECAIs for Basel II implementation Malaysia-Singapore Basel II Case Study on home-host issues
Working Group on Banking Supervision Surveys on macro-surveillance frameworks, FSAP stress testing processes Financial crisis management framework
Working Group on Banking Supervision Regular updates on Evolving International Standards and Best Practices Interactions with International Banking Supervision Fora Interaction with Basel Committee on Bank Supervision (BCBS) BCBS’ Meetings with Regional Groups of Banking Supervisors
Regional Co-operation
Regional Co-operation Memorandum of Understandings (MoUs) Bilateral Meetings Supervisory Colleges Inspections/Joint Inspections Reference checks on senior appointments of financial institutions, licence applications
Regional Training
Regional Training Training providers Asian Development Banks (ADB) Asia-Pacific Economic Cooperation Financial Regulators Training (APEC) EMEAP/Financial Stability Institute (FSI) International Monetary Fund (IMF) – Singapore Training Institute SEACEN Centre
Regional Training Seminars Seminar on Internal Ratings-Based Approach Seminar on Supervisory Review Process of Basel II Seminar on IRB Validation Seminar on Credit Risk Transfers Seminar on IAS 39 Implementation
Regional Training Seminars/Courses SEACEN-FSI Regional Seminar on Supervisory Review Process of Basel II and its Implementation Regional Banking Supervisor Training Program Leadership Seminar on Financial system oversight EMEAP Credit Risk Transfer Workshop
Conclusion
Conclusion Established working relationships among central banks/bank supervisors in the region Participations in regional forum, seminars and courses
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