Regional: Harmonization of Bond Standards and Market Practices in ASEAN+3: Support for ASEAN+3 Bond Market Forum, Phase 2

Sovereign Project | 45152-001

Summary

Under the Phase 2 study, the creation of bond issuance program for cross-border bond issuance in the region will be discussed as Sub-Forum 1 to succeed the information collection exercise under the Phase 1, while the work to enhance Straight-Through-Processing as Sub-Forum 2 will continue because the Phase 1 study only focuses on government bond transaction. It is necessary to expand scope to other securities such as corporate bonds and equities as these are executed under the same transaction procedures and IT system channels.

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Project Name Harmonization of Bond Standards and Market Practices in ASEAN+3: Support for ASEAN+3 Bond Market Forum, Phase 2
Project Number 45152-001
Country Regional
Project Status Closed
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 8049-REG: Harmonization of Bond Standards and Market Practices in ASEAN+3: Support for ASEAN+3 Bond Market Forum, Phase 2
Investment Climate Facilitation Fund under RCIFPF US$ 1.20 million
Strategic Agendas Inclusive economic growth
Regional integration
Drivers of Change Partnerships
Sector / Subsector Finance - Banking systems and nonbank financial institutions - Finance sector development - Insurance and contractual savings - Money and capital markets
Gender Equity and Mainstreaming
Description Under the Phase 2 study, the creation of bond issuance program for cross-border bond issuance in the region will be discussed as Sub-Forum 1 to succeed the information collection exercise under the Phase 1, while the work to enhance Straight-Through-Processing as Sub-Forum 2 will continue because the Phase 1 study only focuses on government bond transaction. It is necessary to expand scope to other securities such as corporate bonds and equities as these are executed under the same transaction procedures and IT system channels.
Project Rationale and Linkage to Country/Regional Strategy
Impact Efficient mobilization of regional resources through deeper, broader, and more integrated regional capital markets and creation of more sound and resilient financial systems, which supports further economic growth of the region.
Project Outcome
Description of Outcome Creation of a new common bond issuance scheme
Progress Toward Outcome
Implementation Progress
Description of Project Outputs

1. SF1 to create a common bond issuance program for a new regional international bond market, and prepare a strategy and road map to promote the new issuance program.

2. SF2 to produce the Phase 2 report on transaction flows and procedures in corporate bonds with analysis of corporate actions in the member states and fit-and-gap analysis of each market to move towards harmonization of messaging

Status of Implementation Progress (Outputs, Activities, and Issues)
Geographical Location
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design
During Project Implementation
Business Opportunities
Consulting Services Recruitment of Consultants expected to take place by the last quarter of 2011.
Responsible ADB Officer Satoru Yamadera
Responsible ADB Department SDCC
Responsible ADB Division SDOD
Executing Agencies
Asian Development Bank6 ADB Avenue, Mandaluyong
Metro Manila, Philippines
P.O. Box 789, 1099 Manila,
Philippines
Timetable
Concept Clearance 18 May 2011
Fact Finding 19 May 2011 to 25 May 2011
MRM -
Approval 13 Jan 2012
Last Review Mission -
Last PDS Update 07 Jun 2011

TA 8049-REG

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
13 Jan 2012 - 13 Jan 2012 31 Dec 2013 15 May 2014 -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
0.00 1,200,000.00 0.00 0.00 0.00 0.00 1,200,000.00 13 Jan 2012 1,145,092.53

Safeguard Documents

See also: Safeguards

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Evaluation Documents

See also: Independent Evaluation

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