ECONOMYNEXT – An Asian regional group meeting, attended by IMF and WB representatives, has discussed financial system stability and efforts to enhance cross-border payments, Sri Lanka’s central bank said.
The central bank hosted the Financial Stability Board (FSB) Regional Consultative Group for Asia (RCG Asia) on May 22 in Colombo.
“The discussions at the meeting covered a broad range of issues relevant to financial system stability,” the monetary authority said in a statement.
“Key topics included global and regional financial vulnerabilities, efforts to enhance cross-border payments, developments and risks associated with non-bank financial intermediation, and regulatory reforms relating to securitisation markets.”
Members shared experiences, identified potential risks, and explored collaborative approaches to strengthen financial resilience across the region, it said.
The meeting was co-chaired by central bank governor Nandalal Weerasinghe and Hong Kong Monetary Authority chief executive Eddie Yue.
Representatives from Australia, Brunei Darussalam, Cambodia, China, Hong Kong SAR, India, Indonesia, Japan, Korea, Malaysia, Pakistan, Philippines, Singapore, Sri Lanka, Thailand, and Vietnam participated.
Representatives from FSB, International Monetary Fund and the World Bank also attended. (Colombo/May26/2025)
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