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FINANCIAL MARKET COURSES

Financial Authorities (Asia)

In the aftermath of the Asian financial crisis of the late 1990s, many Asian economies took advantage of improved global conditions to strengthen their economic and financial fundamentals. As a result, when the global financial and economic crisis erupted in 2007, Asian economies were well positioned to avoid its worst effects. The learning experience gleaned from the region’s own financial crisis nearly a decade earlier helped Asia emerge relatively unscathed. Notably, most banks in the region were not heavily exposed to distressed markets for structured credit products and other toxic securities. A number of institutions actually seized the opportunity to acquire assets at fire-sale prices. The expectation is that Basel III – the new global capital standards – is unlikely to be too onerous for most Asian banks due to their reasonable core capital buffers, modest reliance on hybrid capital, and generally good liquidity.

 

This course describes the regulatory framework and the key financial authorities operating in four major Asian economies – Japan, China, Hong Kong, and Singapore.

  • OBJECTIVES

    On completion of this course, you will be able to describe the financial regulatory environment in the following Asian economies:

    Japan

    China

    Hong Kong

    Singapore

  • COURSE OUTLINE

    Topic 1: Japan

    Overview

    Financial Authorities

    o Bank of Japan

    • Monetary Policy

    • Market Operations

    • Other Operations

    o Financial Stability

    • Microprudential Measures

    • Macroprudential Measures

    • Other Measures

    Financial Services Agency (FSA)

    Securities and Exchange Surveillance Commission (SESC)

    Other Regulators/ Associations

    o Japan Securities Dealers Associations (JSDA)

    o Financial Futures Association of Japan (FFAJ)

    o Japanese Bankers Association

    Topic 2: China

    Overview

    o Banking in China

    Financial Authorities

    o Peoples Bank of China

    o Monetary Policy

    • Interest Rates

    • Reserve Requirements

    • Open Market Operations

    • Exchange Rate Management

    • Non-Market Operations

    o China Banking Regulatory Commission (CBRC)

    o China Securities Regulatory Commission (CSRC)

    Topic 3: Hong Kong

    Overview

    Financial Authorities

    o Hong King Monetary Authority (HKMA)

    • Monetary Policy

    o Linked Exchange Rate System

    • Supervision

    o Securities and Futures Commission (SFC)

    o Hong King Exchanges and Clearing Limited (HKEx)

    Topic 4: Singapore

    Overview

    Financial Authorities

    Monetary Authority of Singapore (MAS)

    o Monetary Policy

    • Management of ‘SSNEER’

    • Liquidity Management

    o Other Functions of MAS

    Singapore Exchange (SGX)

  • PREREQUISITE KNOWLEDGE

  • ESTIMATED COMPLETED TIME

    75 Minutes

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