The initial outbreak of the sub-prime crisis through the interconnected financial system may have occurred in early 2007, but the fragility of the global banking system has remained wide-spread in recent years. Amidst the global financial environment, the East and Southeast Asian economies have...

Whenever a financial crisis occurs, threatening a possible financial meltdown, central banks have to be at the forefront in combating, neutralizing the crisis and restoring financial stability and economic growth. In this regard, the present sub-prime crisis which originated from the US...