Content      
HOME
OUR MISSION
OUR OBJECTIVES
 
Strengthening Regulatory and Regional
Financial Cooperation
Strengthening Financial
Stability
Promoting Information
Exchange and
Technical Assistance
E MAS IN THE INTERNATIONAL ARENA  
 
Box 17 - Singapore on the World Map –  
IMF-World Bank Annual Meetings  
82
     
  Strengthening Regulatory and Regional
Financial Cooperation
83
 
Banking  
83
 
Insurance  
84
 
Capital Markets  
84
   
Anti Money Laundering, Countering the Financing of Terrorism  
85
 
  STRENGTHENING REGULATORY AND REGIONAL
FINANCIAL COOPERATION

Banking
 
On the international stage, MAS is a member of the Core Principles Liaison Group established by the Basel Committee on Banking Supervision, and plays an active role in the Basel Committee’s project to review the Core Principles for Effective Banking Supervision. We are also involved in the development of supervisory guidance undertaken by various Basel Committee subgroups, including those on the implementation of Basel II and on accounting issues.

MAS continued as Chair of the Executives’ Meeting of East Asia-Pacific Central Banks Working Group on Banking Supervision (EMEAP WGBS) for a second year. During the year, the Working Group facilitated the adoption of international standards for banking supervision and financial system stability in the region, and promoted cooperation and communication among regional bank regulators. The Working Group has also established study groups to look into issues relating to Basel II implementation and macro-surveillance. Some of these issues were shared with the Basel Committee and other regional supervisory groupings.
In November 2005, MAS as the EMEAP WGBS chair, jointly hosted a meeting on the Implementation of Basel II in Asia with the Financial Stability Institute. The meeting provided a platform for G10 and Asia central banks and supervisors to discuss key implementation challenges faced in their respective jurisdictions. This was followed by a separate interaction session, hosted by MAS, between the EMEAP WGBS and key members of the Basel Committee on Banking Supervision. This interaction helped to enhance the understanding between the international standard-setting body and regional central banks, particularly in respect of the Basel Committee’s recent work and key future initiatives.