fbpx 50055-001: Creating a Regional Settlement Intermediary in ASEAN+3: Cross-Border Settlement Infrastructure Forum | Asian Development Bank

Regional: Creating a Regional Settlement Intermediary in ASEAN+3: Cross-Border Settlement Infrastructure Forum

Sovereign (Public) Project | 50055-001 Status: Active

The TA aims to support CSIF to set new technical as well as operational conditions to materialize the CSD RTGS 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

Project Officer
Yamadera, Satoru Economic Research and Regional Cooperation Department Request for information
Country
  • Regional
Modality
  • Technical Assistance
Sector
  • Finance
 
Project Name Creating a Regional Settlement Intermediary in ASEAN+3: Cross-Border Settlement Infrastructure Forum
Project Number 50055-001
Country Regional
Project Status Active
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 9197-REG: Creating Regional Settlement Intermediary in ASEAN+3 Region: Support to Cross-border Settlement Infrastructure Forum
Republic of Korea e-Asia and Knowledge Partnership Fund US$ 500,000.00
Strategic Agendas Inclusive economic growth
Regional integration
Drivers of Change Governance and capacity development
Knowledge solutions
Partnerships
Sector / Subsector

Finance / Finance sector development

Gender Equity and Mainstreaming No gender elements
Description The TA aims to support CSIF to set new technical as well as operational conditions to materialize the CSD RTGS 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
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
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design
During Project Implementation
Business Opportunities
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 systems particularly for central bank and securities depositories and 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
6 ADB Avenue,
Mandaluyong City 1550, Philippines
Timetable
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
Approval Signing Date Effectivity Date Closing
Original Revised Actual
30 Sep 2016 - 30 Sep 2016 31 Dec 2018 30 Jun 2020 -
Financing Plan/TA Utilization Cumulative Disbursements
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 30 Sep 2016 469,603.99

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