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EMEAP, the Executives’ Meeting of East Asia-Pacific Central Banks, is a cooperative organization of central banks and monetary authorities (hereinafter simply referred to as central banks) in the East Asia and Pacific region. Its primary objective is to strengthen the cooperative relationship among its members. It comprises the central banks of eleven economies: Reserve Bank of Australia, People’s Bank of China, Hong Kong Monetary Authority, Bank Indonesia, Bank of Japan, Bank of Korea, Bank Negara Malaysia, Reserve Bank of New Zealand, Bangko Sentral ng Pilipinas, Monetary Authority of Singapore, Bank of Thailand

Current Highlights?CurrentHighlight

green_bullets??New Press Statement - The 25th EMEAP Governors’ Meeting [Part II] was held?on?16?November 2020

????????? 17/11/2020

green_bullets?New?Press Statement?– The 25th EMEAP Governors’ Meeting [Part I] was held?on?19?August 2020

????????? 19/08/2020

green_bullets??New Publication – Study on US dollar Liquidity and Funding Dynamics in the EMEAP Region (August 2020)

?????????? 19/08/2020

This Working Group on Financial Markets (WGFM) report highlights members’ observations on the shifting dynamics of the US dollar in regional financing activities over the years, and its impact on regional financial stability. Members opined that the macroeconomic adjustments and the set of banking sector reforms undertaken in the past decades had strengthened the resilience of many EMEAP economies coming into the March-April episode of global US dollar liquidity stress. Nevertheless, members also identified certain areas which would require further regional collaborations to guard against future shocks.

green_bullets?New?Press Statement?– EMEAP publishes Report
“Study on the Implications of Financial Benchmark Reforms”

????????? 24/09/2019

green_bullets??New Publication – Study on the Implications of
Financial Benchmark Reforms (September 2019)

?????????? 24/09/2019

Financial benchmarks, especially interest rate benchmarks, are commonly referenced in financial contracts. ?However, the notable decline in the liquidity of the unsecured money markets after the global financial crisis, together with incidents of benchmark manipulation, raised questions about the credibility and robustness of submission-based benchmarks. ?Against this background, global efforts have been taken in reforming the financial benchmarks. ?The Working Group on Financial Markets agreed in September 2018 to conduct a study on the implications of financial benchmark reforms to regional markets, focusing on: A) LIBOR discontinuation; B) EU Benchmarks Regulation (BMR); and C) Reform of local benchmarks, in the EMEAP region. This report provides a brief overview of the three areas of financial benchmark reforms, summarises the results of a WGFM survey and discussion among EMEAP members and private financial institutions, as well as identifies risk scenarios and proposes some policy recommendations for EMEAP members’ consideration. ?The purpose of this report is to raise awareness of market participants, as well as to further enhance the market’s readiness for financial benchmark reforms.?

green_bullets?New Press Statement – The 24th EMEAP Governors’ Meeting was held in Shenzhen on?29?August 2019

30/08/2019

green_bullets?New?Press Statement?– The Fourteenth Asia-Pacific High-level Meeting on Banking Supervision was held in Sydney on?13–14 February 2019

????????? 21/02/2019

green_bullets??New Publication – EMEAP Money Markets????? Annex: Survey Results?

?????????? 10/08/2018

Money markets serve as an important infrastructure for both private financial institutions and central banks. They are where financial institutions manage short-term funds based on their outlook on interest rates and their demand for, or supply of, funds. While the EMEAP money markets continue to have ample liquidity, partly thanks to prolonged capital inflows, this could start to decrease gradually if there were a reversal of capital flows. This report aims to record the state of play in the money markets, together with policy initiatives taken in the EMEAP region. While acknowledging that money markets have evolved in a manner unique to each jurisdiction, this report provides a reference to assist with further development of money markets in the region.

green_bullets?New Press Statement – The 23rd EMEAP Governors’ Meeting was held in Manila on?4?August 2018

06/08/2018

green_bullets?New?Press Statement?– EMEAP Central Banks Announce the Launch of PAIF Securities Lending

26/06/2018

green_bullets?New?Press Statement?– The 13th Asia-Pacific High Level Meeting on Banking Supervision?was held in Singapore on 28 February to 1 March

09/03/2018

green_bullets?New Press Statement – The 22nd EMEAP Governors’ Meeting was held in Auckland on 15 May 2017

16/05/2017

green_bullets??New Publication – Impact of the Liquidity Coverage Ratio (LCR) Requirement on EMEAP Money Markets, Central Bank Operations and Monetary Policy Transmission?

01/08/2016

The Liquidity Coverage Ratio (LCR) was implemented by the Basel Committee with the aim of developing a more resilient banking sector. Given the significance of the LCR requirement as a global liquidity regulation, the Working Group for Financial Markets studied the impact of the LCR requirement on money markets, central bank operations and monetary policy transmission in the EMEAP region. This report summarises the findings and builds on the body of existing research on this topic.

green_bullets?New Press Statement – The 21st EMEAP Governors’ Meeting was held in Bali on 31 July 2016

31/07/2016

green_bullets?New Press Statement – East Asia Pacific central banks reinvest Asian Bond Funds

01/07/2016

green_bullets New Press Statement – The 20th EMEAP Governors’ Meeting was held in Singapore on 30 May 2015

01/06/2015

green_bullets?New Publication – EMEAP Repo Markets: State of Play – A Report by the EMEAP Working Group on Financial Markets 2014

21/08/2014
This report discusses the Working Group on Financial Markets’ review of repo markets in the region. The objective of the review was to describe the place these markets occupy in member jurisdictions and to better understand the factors behind their development to date and the factors that might be impeding further or quicker development.

green_bullets?New Meeting – EMEAP Repo Markets: State of Play – A Report by the EMEAP Working Group on Financial Markets 2014

21/08/2014
This report discusses the Working Group on Financial Markets’ review of repo markets in the region. The objective of the review was to describe the place these markets occupy in member jurisdictions and to better understand the factors behind their development to date and the factors that might be impeding further or quicker development.