Local Currency Collateral for Cross-Border Financial Transactions: Policy Recommendations from the Cross-Border Settlement Infrastructure Forum
Publication | September 2022
This report looks at how the use of local currency-denominated bonds for cross-border collateral transactions can be promoted in ASEAN+3 to develop regional bond markets.
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Active use of local currency-denominated bonds for cross-border collateral transactions can help by mitigating risks, reducing the credit costs of financial institutions, and expanding market liquidity. The report identifies the challenges faced by regional collateral markets and proposes seven policy recommendations for promoting the cross-border use of local currency bonds as collateral in the Association of Southeast Asian Nations plus the People’s Republic of China, Japan, and the Republic of Korea—known collectively as ASEAN+3.
Contents
- Introduction
- Overview of the Collateral Market Environment in the Region
- Cross-Border Collateral Arrangements
- The Use of Local Currency Bonds as Cross-Border Collateral
- Considerations in Promoting Cross-Border Collateral Transactions
- Policy Recommendations
- Next Steps
- Appendixes
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