Media Releases
Published Date: 28 May 2015

MAS Co-Hosts Symposium on Building Resilience and Supporting Growth

mas-to-host-three-high-level-events-with-asian-focusSingapore, 28 May 2015… The Monetary Authority of Singapore (MAS), together with the Federal Reserve Bank of San Francisco (FRBSF), today opened the 2015 Symposium on Asian Banking and Finance in Singapore. The one-and-a-half day Symposium is part of a series of three events1 being held in Singapore over the next three days, to promote engagement on key financial sector issues facing Asia. This is the first time that the FRBSF is holding the Symposium in Asia and co-hosting it with an Asian partner.

2   The Symposium, titled “The Evolving Reform Agenda: Building Resilience, Supporting Growth”, aims to facilitate a candid dialogue on ways to build the resilience of the financial system in Asia. Participants include regional central bank governors and heads of financial supervision, notable academics and Asia-Pacific CEOs of major financial institutions. Mr Ravi Menon, Managing Director of MAS, delivered opening remarks, “Whither Asian Banking?” Dr John Williams, President and CEO of the Federal Reserve Bank of San Francisco, delivered the keynote address, “Macroprudential Policy in a Microprudential World”.

3   Participants will discuss three main themes: 

  • Looking back at the global financial crisis and assessing measures taken to strengthen the financial sector
  • Examining emerging financial system risks and policy responses in the current macro-financial environment
  • Looking ahead to analyse long-term developments which will shape the opportunities and risks in Asian finance, and  how supervisors and central banks should respond

4   On 28 May, participants will deliberate on the further steps needed to address financial sector vulnerabilities revealed as a result of the financial crisis, and discuss the role of financial institutions and authorities in fostering sound culture and ethics in finance, especially given recent cases of misconduct in the financial markets. On 29 May, the participants will discuss the current and future direction of financial markets, and how the industry and policymakers should respond.

1 MAS to host three high-level events with Asian focus: