The role of international banking and lending to the emerging markets has been long debated. To date, the balance of evidence supports the view that foreign bank entry into the domestic banking system has been largely a positive one. The liberalisation of local banking systems and the presence...

The main objective of this high-level Conference was to bring together senior staff of SEACEN member central banks to discuss the future role of the central bank in supporting adjustments in the growth strategy for Asia in response to lessons from the GFC. The discussions were fruitful and the...

The payment and settlement systems play a core intermediating function and operate as the “plumbing system” for financial markets to help ensure swift, safe and seamless flow of funds from one payment participant to another. Smooth and certain settlement of payments would reduce risks,...

One of the main reasons the economic and financial crisis, which began in 2007, became so severe was that the banking sectors of many countries had built up excessive on- and off-balance sheet leverage. This was accompanied by a gradual erosion of the level and quality of the capital base. At...

Financial Market Infrastructures (FMIs) play a critical role in the financial system and the broader economy by facilitating the clearing, settlement and recording of monetary and other financial transactions and thereby maintaining and promoting financial stability and economic growth. However,...

There is a growing concern over the rapid increase in mortgage loans and consumer credit of households in SEACEN economies in recent years. Rising household credit has important implications for the economy. Periods of excessive credit growth has often been linked with episodes of financial and...

The study provides a review of the twin liberalisation programmes in the SEACEN countries, with emphasis on the sequencing and pacing of reforms in the domestic financial sector and the capital account. It also analyses the macroeconomic developments in the SEACEN countries during 1990 to 1995...

A well developed non-bank financial sector is viewed as an important component of a healthy and efficient financial system that can provide a sound base for growth and prosperity in the economy. This study observes that the non-bank financial sector has developed significantly in the SEACEN...

The author examines the interest rate issues within the context of the different financial structure and stages of economic growth of the various countries. The study is divided into two parts. The first part contains a description of the current systems and structure of the interest rate...

This study examines critically the current problems and issues affecting the development of capital markets in the region. It also identifies those factors which are crucial for the orderly development of a well-functioning capital market in a country.