Proposal on ASEAN+3 Multi-Currency Bond Issuance Framework (AMBIF)

Date: December 2013
Type: Reports
Subject:
ISBN: 978-92-9254-446-1 (print), 978-92-9254-447-8 (web)
Author: Lee, Seung Jae; Inukai, Shigehito; Schmidt, Matthias

Description

The purpose of this report is to describe the ASEAN+3 Multi-Currency Bond Issuance Framework proposal in greater detail, including the definition of its components and the proposed approaches for its implementation, as well as the idea of pilot issues. The proposal in this report are targeted to obtain the consent of the policy bodies and regulatory authorities in participating markets, so as to create awareness of and interest in AMBIF among institutions in the private sector.

Findings

Recommended actions for regulators include the fact that the policy bodies and regulatory authorities interested in participating in the Asian bond markets initiative should start discussions on its implementation based on the approaches, regulatory processes, and considerations detailed in this report.

ASEAN+3 Bond Market Forum

The report is the product of the collaborative efforts of the national members and experts and international experts of the ASEAN+3 Bond Market Forum in cooperation with ADB’s Office of Regional Economic Integration.

This report is the outcome of a regional technical assistance project, RETA 8049: Harmonization of Bond Standards and Market Practices in ASEAN+3: Support for ASEAN+3 Bond Market Forum, Phase 2 under the ASEAN+3 Bond Market Initiative.

Contents

  • Executive Summary
  • Background
  • Basic Approaches
  • Developing the Concept of AMBIF
  • AMBIF Components Required for Implementation
  • The AMBIF Regulatory Process
  • Market Requirements and Components
  • Conclusion
  • Next Steps in ABMF Phase 3
  • Appendixes