MAS IN THE INTERNATIONAL ARENA
     
Content Page
 
 
.
.
Formulating and Implementing Global Standards . Box 18 – Meetings of Minds
.
.
Box 19 – Singapore to Host IMF and
WB Meetings in 2006
   
 
Fostering Regional Cooperation and Development
 
Singapore firmly supports efforts to achieve free flow of financial services regionally and globally. To this end, MAS worked with our Association of South-east Asian Nations (ASEAN) counterparts to speed up financial sector liberalisation in the region. MAS is also part of Singapore’s team engaged in the trade negotiations with members of the World Trade Organization as well as in bilateral trade agreements with countries including India and South Korea.

We work closely with ASEAN members to foster greater cross-border collaboration in capital markets, including the ASEAN Finance Ministers’ initiatives to forge linkages among securities markets. As part of this effort, MAS, together with the Ministry of Finance, will coordinate the ASEAN Finance Ministers’ Investors Seminar to be held in September 2004 in New York.

Beyond ASEAN, MAS is actively involved in the initiative by the Executives’ Meeting of East Asia Pacific Central Banks (EMEAP) to create a local currency Asian bond fund. We also participated in developing EMEAP’s first Asian bond fund which was invested in US Dollar-denominated Asian sovereign and quasi sovereign bonds.
 
Enhancing Risk-focused Supervisory Approach
Box 1 – Fostering a Sound and Progressive Financial Services Sector
Enhancing MAS’ Supervisory Capabilities
Box 2 – Stress Testing of Life Insurers
Box 3 – Streamlining Inspection Function
Thematic Inspections to Improve Surveillance