26th ASEAN Senior Level Committee-SLC on Financial Integration meeting held virtually

The 26th ASEAN Senior Level Committee-SLC on Financial Integration Meeting in progress online yesterday.

The 26th ASEAN Senior Level Committee- SLC on Financial Integration meeting was held yesterday morning using a hybrid format and Dr Lin Aung, Deputy Governor of the Central Bank of Myanmar attended the meeting.
In the meeting, the Glasgow Financial Alliance for Net Zero (GFANZ) and the Asia Pacific Network Office shared information on the state of global and regional financial developments while the ASEAN+3 Macroeconomic Research Office (AMRO) presented the most recent macroeconomic developments in the region.
In the afternoon, the representative from the ASEAN secretariat conferred on prioritized subjects and their growth for the financial integration, and the development of implementation works under processes of the ASEAN Economic Community-AEC. The co-chairs of the meeting discussed the Risk Monitoring Report drafted based on the Risk Monitoring Template (RMT) submitted by ASEAN Finance Working Groups.
At noon, the final progress of the ASEAN Banking Integration Framework- ABIF, the Capital Account Liberalization-CAL, the Capital Market Development-CMD, the Financial Inclusion-FINC, the Financial Services Liberalization-FSL, the Payment and Settlement System-PSS and the Steering Committee on Capacity Building – SCCB, was explained by respective working committees, and deputy governors gave their guidance.
The Senior-Level Committee Working Group co-chairs then discussed recent developments in sustainable finance and the next steps to be taken while the Central Bank of Indonesia discussed the ASEAN Cybersecurity Resilience and Information Sharing Platform-CRISP and the Central Bank of the Philippines about the ASEAN Swap Arrangement.
The co-chairs of the Capital Account Liberalization-CAL presented the updates of the ASEAN Local Currency Transactions-LCT Task Force and ASEAN LCT Framework. They also reviewed the tasks of ASEAN working committees from Indonesia before the Monetary Authority of Singapore, a co-chair of the committee made conclusion remarks. — MNA/TH

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