Regional : Creating a Regional Settlement Intermediary in ASEAN+3: Cross-Border Settlement Infrastructure Forum
The TA aims to support CSIF to set new technical as well as operational conditions to materialize the CSDRTGS Linkages for Delivery versus Payment (DVP) settlement of cross-currency repo and collateral arrangement, leading to the establishment of a new regional safety-net for safer and sound market management in ASEAN+3. The preceding TA supported to create a roadmap of establishing RSI while this TA mostly focuses on technical specification and operational implementation of the CSD-RTGS Linkages. To have smooth implementation among ASEAN+3 markets, of which development stages are very different, some advanced markets will be linked as a pilot case, then, the specification agreed in the pilot case will be implemented in the rest of the markets.
Project Details
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Project Officer
Yamadera, Satoru
Economic Research and Regional Cooperation Department
Request for information -
Country/Economy
Regional -
Modality
-
Sector
- Finance
Project Name | Creating a Regional Settlement Intermediary in ASEAN+3: Cross-Border Settlement Infrastructure Forum | ||||
Project Number | 50055-001 | ||||
Country / Economy | Regional |
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Project Status | Closed | ||||
Project Type / Modality of Assistance | Technical Assistance |
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Source of Funding / Amount |
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Strategic Agendas | Inclusive economic growth Regional integration |
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Drivers of Change | Governance and capacity development Knowledge solutions Partnerships |
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Sector / Subsector | Finance / |
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Gender | No gender elements | ||||
Description | The TA aims to support CSIF to set new technical as well as operational conditions to materialize the CSDRTGS Linkages for Delivery versus Payment (DVP) settlement of cross-currency repo and collateral arrangement, leading to the establishment of a new regional safety-net for safer and sound market management in ASEAN+3. The preceding TA supported to create a roadmap of establishing RSI while this TA mostly focuses on technical specification and operational implementation of the CSD-RTGS Linkages. To have smooth implementation among ASEAN+3 markets, of which development stages are very different, some advanced markets will be linked as a pilot case, then, the specification agreed in the pilot case will be implemented in the rest of the markets. | ||||
Project Rationale and Linkage to Country/Regional Strategy | This TA facilitates monetary and financial cooperation and integration of ASEAN+3, which is one of four pillars of the Regional Cooperation and Integration Strategy. Midterm Review of Strategy 2020 indicates that ADB will strengthen financial and monetary cooperation for greater financial, fiscal, and macroeconomic stability in the region. It also notes that ADB will continue its strong support to ASEAN+3 subregional initiatives, including Asian Bond Markets Initiatives. | ||||
Impact | Greater financial stability in ASEAN+3 region |
Project Outcome | |
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Description of Outcome | Risk associated cross-border transactions reduced |
Progress Toward Outcome | |
Implementation Progress | |
Description of Project Outputs | Linkages among the central banks and CSDs in ASEAN+3 agreed Reporting to ABMI TF4 provided CSIF report produced |
Status of Implementation Progress (Outputs, Activities, and Issues) | |
Geographical Location | Regional |
Summary of Environmental and Social Aspects | |
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Environmental Aspects | |
Involuntary Resettlement | |
Indigenous Peoples | |
Stakeholder Communication, Participation, and Consultation | |
During Project Design | |
During Project Implementation |
Business Opportunities | |
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Consulting Services | The TA will require 14 person-months of individual international consulting services and 27 person-months of individual national consulting services. International consulting services will comprise (i) 5 person-months for a lead payment settlement and market systems specialist who has more than 15 years of experience in designing and developing market data systems and extensive research experience in payment and settlement systems; (ii) 4 person-months for a payment and settlement expert who has more than 15 years of experience in designing clearing and settlement systemsparticularly for central bank and securities depositoriesand extensive knowledge of clearing and settlement practices in ASEAN+3 markets; (iii) 4 person-months for a network and data standards specialist who has more than 10 years of experience in designing and managing a cross-border standardized data exchange network, specifically one that aligns with International Organization for Standardization 20022 (ISO 20022); and (iv) 1 person-month for a finance and economic editor to support publications. The 27 person-months for a national consultant will involve project coordination; the successful candidate preferably has 5 years' experience in project coordination and excellent oral and written English. |
Responsible ADB Officer | Yamadera, Satoru |
Responsible ADB Department | Economic Research and Regional Cooperation Department |
Responsible ADB Division | Office of the Chief Economist, ERD |
Executing Agencies |
Asian Development Bank |
Timetable | |
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Concept Clearance | 02 Jun 2016 |
Fact Finding | - |
MRM | - |
Approval | 30 Sep 2016 |
Last Review Mission | - |
Last PDS Update | 17 Oct 2016 |
TA 9197-REG
Milestones | |||||
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Approval | Signing Date | Effectivity Date | Closing | ||
Original | Revised | Actual | |||
30 Sep 2016 | - | 30 Sep 2016 | 31 Dec 2018 | 30 Jun 2020 | 05 Aug 2020 |
Financing Plan/TA Utilization | Cumulative Disbursements | |||||||
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ADB | Cofinancing | Counterpart | Total | Date | Amount | |||
Gov | Beneficiaries | Project Sponsor | Others | |||||
0.00 | 500,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 500,000.00 | 17 Jun 2022 | 476,233.23 |
Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.
The Access to Information Policy (AIP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.
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Title | Document Type | Document Date |
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Creating a Regional Settlement Intermediary in ASEAN+3 – Cross-Border Settlement Infrastructure Forum: Technical Assistance Completion Report | TA Completion Reports | Sep 2020 |
Creating a Regional Settlement Intermediary in ASEAN+3 Cross-Border Settlement Infrastructure Forum: Technical Assistance Report | Technical Assistance Reports | Sep 2016 |
Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.
None currently available.
Evaluation Documents See also: Independent Evaluation
Title | Document Type | Document Date |
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Regional: Creating a Regional Settlement Intermediary in ASEAN+3: Cross-Border Settlement Infrastructure Forum | Validation of Technical Assistance Completion Reports | Jan 2021 |
Related Publications
Title | Document Type | Document Date |
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Common Understanding on International Standards and Gateways for Central Securities Depository and Real-Time Gross Settlement (CSD–RTGS) Linkages | Reports | May 2019 |
Common Understanding on Cross-Border Business Continuity Planning and Cybersecurity | Brochures and Flyers | May 2018 |
The Access to Information Policy (AIP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.
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