In a significant gathering of financial policymakers, the Financial Stability Board (FSB) Regional Consultative Group for Asia convened in Colombo, Sri Lanka, on May 22, 2025. Hosted by the Central Bank of Sri Lanka, the meeting welcomed key representatives from Australia, Brunei, Cambodia, China, Hong Kong SAR, India, Indonesia, Japan, Korea, Malaysia, Pakistan, the Philippines, Singapore, Sri Lanka, Thailand, and Vietnam, alongside officials from the FSB, International Monetary Fund (IMF), and World Bank.
Against a backdrop of evolving global economic challenges, the session focused on identifying financial vulnerabilities and reinforcing stability measures across Asian markets. Delegates engaged in in-depth discussions on pressing concerns, including cross-border payment enhancements, aligning with the ambitious G20 Roadmap, and the complexities of non-bank financial intermediation, which has emerged as a crucial area for regulatory attention.
A key highlight was the renewed push for regulatory reforms in securitization markets, aiming to ensure resilience against economic shocks. Participants shared insights from their respective nations, fostering a collaborative exchange that underscored the necessity of international cooperation in financial governance.
Source: Financial Stability Board