Its appointment aligns with its expanding regulatory and operational focus on financial market infrastructures
The Executives' Meeting of East Asia-Pacific Central Banks (EMEAP) has appointed the Reserve Bank of New Zealand (RBNZ) as the chair of the EMEAP Working Group on Payments and Market Infrastructures (WGPMI) for the next two years.
EMEAP is a cooperative organisation of central banks and monetary authorities from Australia, China, Hong Kong, Indonesia, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore, and Thailand.
The WGPMI focuses on the development and regulatory, supervisory, and oversight issues in domestic and cross-border payments and market infrastructures. It also helps its members to convey regional perspectives and cooperate with other multilateral institutions and international forums on payments and market infrastructures issues.
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RBNZ deputy governor Geoff Bascand said the appointment aligns with their expanding regulatory and operational focus on financial market infrastructures (FMIs).
“Our work on establishing a new and enhanced regulatory regime for FMIs operating in New Zealand is well advanced now,” he said.
“As the working group's chair, we look forward to engaging with our EMEAP colleagues and the international community in discussing how to better manage the risks and opportunities for FMIs in an increasingly interconnected and digitally-enabled world.”
