Financial Regulators from Asia and Pacific to Meet in Manila

News Release | 12 September 2008

MANILA, PHILIPPINES - Financial market regulators and supervisors from Asia and the Pacific will gather in Manila on 18-19 September to discuss and exchange ideas on measures to strengthen global, regional and national financial markets in the wake of the US subprime mortgage crisis.

The two-day conference - "Restructuring Beyond the Subprime" - will be held at Asian Development Bank (ADB) headquarters in Manila. The second day of the conference will be co-hosted by Korea Asset Management Corporation (KAMCO).

The conference will focus the first day on the challenges and opportunities facing the regulatory environment. The second day will focus on Asian asset markets and the impact of financial restructuring. It will address regulators' perspectives, the role of asset management companies and other policy responses.

The conference offers a unique opportunity for financial market regulators and supervisors, rating agencies, market participants, members from academic and research institutions and multilateral organizations like the ADB, IMF and Bank for International Settlements to exchange views on the turmoil and its ramifications. It also provides an opportunity to discuss how best to cooperate in developing stable and robust financial systems.

ADB President Haruhiko Kuroda will open the conference at 9 am on 18 September. Don Hanna, Managing Director of Citigroup, will deliver a keynote address. The second day will feature remarks by ADB Managing Director General Rajat M. Nag, followed by a keynote address by Chol Hwi Lee, KAMCO Chairman and CEO, and Fe Barin, Chairperson of the Philippine Securities and Exchange Commission.