High-Level Dialogue on Banking Regulation and Financial Market Development: New Issues in the Post-Crisis Recovery Phase

Abstract

The Asian Development Bank Institute and the Financial Supervisory Agency, Government of Japan jointly sponsored the High-Level Dialogue on Banking Regulation and Financial Market Development held at the ADB Institute in Tokyo on June 8-9, 2000. The conference attracted participants from Japan, France, Germany, Hong Kong, China; Indonesia, Korea, Malaysia, Philippines, Singapore, and the United States. Senior officials from the Basle Committee on Banking Supervision also participated in the conference. The dialogue extends the theme of a previous conference in 1999 on bank restructuring and crisis prevention toward a review of the progress of such initiatives in the Asian banking sector as post-crisis restructuring, introduction of sound corporate governance systems for banks and implementation of the Basle Core Principles. In Session I of the dialogue, bank regulators from Indonesia, Korea, Malaysia and the Philippines described the progress of reforms in their countries' banking regulation and restructuring. Session II explored issues of strengthening the Asian financial sector through improvement in the corporate governance of banks and development of the corporate bond market as an alternative source of finance.