The BOK plans to continue engaging in discussions on global regulatory issues taking place in the SSBs and various central bank communities (the CPMI, EMEAP, SEACEN
, ASEAN+3, etc.
Furthermore, the SEACEN countries argued that due to the needs of particular countries, and for the measures to be effective with an element of surprise, they should not be subjected previous consultations or dispute settlement.
The SEACEN position was shared by other developing countries, Mexico agreed that any degree of financial liberalization should provide due account of prudential considerations and the development objectives of developing countries (89).
The fourth option, defended by the SEACEN countries, that promoted an unqualified right of regulation, faced strong responses by the rest of delegations.
In his inaugural address at the conference, President Mahinda Rajapaksa, welcomed The People's Bank of China as new member of SEACEN.
He reminded central bankers and multi-lateral agencies of the enormous responsibility placed on them to maintain global economic and financial stability in order to uplift living standards, especially highlighting the vital role of the SEACEN members in rebuilding the world economy and reforming the international monetary system.
Governors noted the challenges facing emerging markets during the post-global financial crisis from the perspective of SEACEN central banks.
Malaysian central bank chief Ali Abul Hassan Sulaiman said that to build more resilient, competitive and dynamic banking sectors, SEACEN
must work toward reform in the financial sector.
includes 17 members with the People's Bank of China the newest member.
Bercuson, Kenneth, and Linda Koenig, "The Recent Surge in Capital Inflows to Asia: Cause and Macroeconomic Impact," SEACEN
Occasional Paper, 1993.
26 -- The 46th SEACEN Board of Governors Meeting sponsored by the Central Bank of Sri Lanka was inaugurated this morning by President Mahinda Rajapaksa.
Ajith Nivard Cabraal will chair the SEACEN Board of Governors for the 2011/12 operating year.