CBM Vice-Chair attends SEACEN High-Level Seminar & Meeting for Deputy Governors

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CBM Deputy Governor Daw Than Than Swe virtually joins the SEACEN High-Level Seminar and Meeting for Deputy Governors yesterday.

The SEACEN High-Level Seminar and Meeting for Deputy Governors (Financial Stability and Supervision) was held yesterday at 7:30 am via videoconference.
Deputy governors of central banks from Southeast Asian countries, officials, Vice-Chair of the Central Bank of Myanmar Daw Than Than Swe, and staff from various departments of the Central Bank of Myanmar attended the meeting.
The meeting is an annual conference held by the Vice-Chairs of the Central Bank of SEACEN member countries who are involved in financial system stability and supervision.
The central bank vice-chairpersons and central bank employees and executives from the private sector attended and discussed the stability of the financial system, innovation and the risk of loss.
Officials discussed sovereign debt and financial stability in emerging market economies, challenges of central bank digital currencies (CBDCs) and lessons learned from the implementation of digital currencies in Caribbean countries, stability of ASEAN countries’ financial systems and possible losses, challenges related to cyber-attacks and cyber threats in financial system stabilization, and advantages and disadvantages of Big Techs and Fin Techs.
They also focused on global oil prices rising along with the global macro trend, climate change, natural disasters, cyber-attacks, and conducting stress testing exercises for banks considering multiple channels.
Due to geopolitics, policymakers need to increase effective regulatory oversight of state-owned banks in order to stabilize the financial system, officials said during the meeting.
They exchanged experiences and discussed the need for strong banking crisis management frameworks and the need for monetary policy and fiscal policy to be interconnected.
The second day of the SEACEN High-Level Seminar and Meeting for Deputy Governors (Financial Stability and Supervision) continued yesterday at 7:30 am via videoconference.
Topics that may affect the stability of the financial sector due to cryptocurrency and plans that can be implemented in the financial sector to overcome the challenges that may arise due to cryptocurrency were focused on.
They also discussed plans to protect the financial sector from possible losses due to climate change. — MNA

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