Financial markets

11th Roundtable on Capital Market Reform in Asia

 

22-23 February 2010, Tokyo, Japan

The OECD-ADBI Eleventh Roundtable on Capital Market Reform in Asia ("Tokyo Roundtable") took place on 22-23 February 2010 at the ADBI (Asian Development Bank Institute) in Tokyo. The Tokyo Roundtable was jointly organised and sponsored by the ADBI and the OECD, in cooperation with the Government of Japan.

The Tokyo Roundtable was established in 1999 in the aftermath of the Asian financial crisis, and has almost annually offered a forum for discussion among Asian/OECD member countries' regulators, policy- makers, experts, practitioners, scholars and international organisations on topics of main interest from the viewpoint of capital market reform in Asia.


The main topics of 11th Tokyo Roundtable were:

  • Exit strategy, financial regulatory reform and growth rebalancing in Asia
    • Exit strategy and financial regulatory reform from a global perspective
    • Policy framework and principles for effective and efficient financial regulation
    • Financial sector reform and growth rebalancing in Asia
  • Capital market development strategy in Asia after the financial crisis
    • Bond and equity markets
    • Unregulated entities, products and markets
    • Capital market integration in Asia

 

Documentation

 

Session I: Exit Strategy, Financial Regulatory Reform and Growth Rebalancing in Asia

Session 1.1: Exit strategy, financial regulatory reform from a global perspective

Moderator: Mr. Andrew Sheng, Chief Adviser, China Banking Regulatory Commission, Chairman of the Roundtable
Speakers:
• OECD perspectives, Mr. Adrian Blundell-Wignall, Deputy Director, Directorate for Financial and Enterprise Affairs, OECD

• European perspectives, Mr. Hans-Helmut Kotz, Member of the Executive Board, Deutsche Bundesbank
• US perspectives, Mr. Sarkis D. Yoghourtdjian, Assistant Director, Board of Governors, Federal Reserve System
• Japan perspectives, Mr. Toshiyuki Miyoshi, Director, Supervisory Planning Office, Financial Services Agency (FSA)

Discussants:
Mr. Akira Ariyoshi, Director, Regional Office for Asia and the Pacific, International Monetary Fund (IMF) 
Ms. Atchana Waiquamdee, Deputy Governor, Bank of Thailand

 

Session 1.2: Establishing a sound policy framework for effective and efficient financial regulation

Moderator: Mr. Adrian Blundell-Wignall, Deputy Director, Directorate for Financial and Enterprise Affairs, OECD
Speakers:
• OECD perspectives, Mr. Timothy Bishop, Senior Expert in Finance and Insurance, Financial  Affairs Division, OECD
• US perspectives, Mr. Sarkis D. Yoghourtdjian, Assistant Director, Board of Governors, Federal Reserve System
• Japan perspectives, Mr. Kiyotaka Sasaki, Director, Coordination Division, Securities and Exchange Surveillance Commission, Financial Services Agency (FSA)
• Australian perspectives, Mr. Jeffrey Carmichael, CEO, Promontory Financial Group Australasia, Singapore

Discussants:
Mr. Fuad Rahmany, Chairman, Indonesia Capital Market and Financial Institutions Supervisory Agency (BAPEPAM-LK), Ministry of Finance, Indonesia
Mr. Trung Bui Quang, Acting Director of Asian Development Bank, State Bank of Viet Nam

 

Session 1.3:  Financial sector reform and growth rebalancing in Asia

Moderator: Mr. Masahiro Kawai, Dean, ADBI
Speakers:
• New Institutional Structure for Financial Sector Regulation and its Implications on Asia , Mr. Eli Remolona, Chief Representative, Representative Office for Asia and the Pacific, Bank for International Settlements (BIS), Hong Kong
• Lessons from Global Financial Crisis (GFC) for Management and Liberalization of Capital Flows in Asia, Mr. Mario Lamberte, Director for Research, ADBI
• Corporate Savings and Rebalacing in Asia, Mr. Kenneth Kang, Division Chief, Asia and Pacific Department, International Monetary Fund (IMF)
• Recycling of Excess Savings to Support Investment and Consumption in Asia, Mr. Peter Morgan, Senior Consultant for Research, ADBI

Discussants:
Mr. Simon Ogus, CEO of DSGAsia, Hong Kong
Mr. Diwa Guinigundo, Deputy Governor, Bangko Sentral ng Pilipinas (BSP), Philippines

 

Session II: Capital Market Development Strategy in Asia after the Financial Crisis

Session 2.1:  Bond and Equity Markets

Moderator: Mr. Mario Lamberte, Director for Research, ADBI
Speakers:
• Strong Asian Growth and Asian Bond Markets Initiative, Mr. Takehiko Nakao, Director-General, Ministry of Finance, Japan
• Implications of Global Financial Crisis (GFC) on Bond and Equity Market Development in Asia, Mr. Sabyasachi Mitra, Senior Economist, Asian Development Bank (ADB)
• Recent development in Asian Bond Fund project, Mr. Shinobu Nakagawa Associate Director-General and Mr. Naoto Shimoda, Director, International Department, Bank of Japan (BOJ)
• Roles of Regional Credit Rating Agencies, Mr. John West, Senior Consutlant for Capacity Building & Training, ADBI
Discussants:
Ms. Yoko Ogimoto, Consultant, Nomura Research Institute
Mr. Satoshi Nakagawa, Senior Analyst, Japan Credit Rating Agency

 

Session 2.2:  Unregulated entities, products and markets

Speakers:
• Hedge Fund Regulatory Framework from IOSCO, Mr. Toshiya Otsu, Director for Financial Market Operation, Financial Services Agency (FSA)
• Future of OTC Derivatives Market, Mr. Nicolas Galmiche, Head of Japan Fixed Income Business, JP Morgan Securities
• A Regulatory Approach to Innovative Financial Products, Mr. Stephen Lumpkin, Principal Administrator (Structural issues), Financial Affairs Division, OECD
Discussants:
Mr. Andrew Sheng, Chief Adviser, China Banking Regulatory Commission, Chairman of the Roundtable
Mr. Mohammad Zainal Shaari, Executive Director / Chief Operating Officer
Khazanah Nasional Berhad

 

Session 2.3:  Capital market integration in Asia

Moderator: Mr. Worapot Manupipatpong, Director for Capacity Building & Training ADBI
Speakers:

• Progress and Issues in Bond Markets Integration: ASEAN Experience, Mr. Sabyasachi Mitra, Senior Economist, Asian Development Bank (ADB)
• Progress and Issues in Capital Markets Integration: ASEAN Experience, Ms. Fe Barin, Chairperson, Securities and Exchange Commission of Philippines
Discussants:
Mr. Shigeo Kashiwagi, Professor, Graduate School of Business and Commerce Keio-University, Japan
Mr. Musa Mahmood, General Manager & Head, Market Development, Securities Commission Malaysia

 

See also

 

Please find the direct link to the Previous Tokyo Roundtables on Capital Market Reform in Asia.

 

 

 

Countries list

  • Afghanistan
  • Albania
  • Algeria
  • Andorra
  • Angola
  • Anguilla
  • Antigua and Barbuda
  • Argentina
  • Armenia
  • Aruba
  • Australia
  • Austria
  • Azerbaijan
  • Bahamas
  • Bahrain
  • Bangladesh
  • Barbados
  • Belarus
  • Belgium
  • Belize
  • Benin
  • Bermuda
  • Bhutan
  • Bolivia
  • Bosnia and Herzegovina
  • Botswana
  • Brazil
  • Brunei Darussalam
  • Bulgaria
  • Burkina Faso
  • Burundi
  • Cambodia
  • Cameroon
  • Canada
  • Cape Verde
  • Cayman Islands
  • Central African Republic
  • Chad
  • Chile
  • China (People’s Republic of)
  • Chinese Taipei
  • Colombia
  • Comoros
  • Congo
  • Cook Islands
  • Costa Rica
  • Croatia
  • Cuba
  • Cyprus
  • Czech Republic
  • Côte d'Ivoire
  • Democratic People's Republic of Korea
  • Democratic Republic of the Congo
  • Denmark
  • Djibouti
  • Dominica
  • Dominican Republic
  • Ecuador
  • Egypt
  • El Salvador
  • Equatorial Guinea
  • Eritrea
  • Estonia
  • Ethiopia
  • European Union
  • Faeroe Islands
  • Fiji
  • Finland
  • Former Yugoslav Republic of Macedonia (FYROM)
  • France
  • French Guiana
  • Gabon
  • Gambia
  • Georgia
  • Germany
  • Ghana
  • Gibraltar
  • Greece
  • Greenland
  • Grenada
  • Guatemala
  • Guernsey
  • Guinea
  • Guinea-Bissau
  • Guyana
  • Haiti
  • Honduras
  • Hong Kong, China
  • Hungary
  • Iceland
  • India
  • Indonesia
  • Iraq
  • Ireland
  • Islamic Republic of Iran
  • Isle of Man
  • Israel
  • Italy
  • Jamaica
  • Japan
  • Jersey
  • Jordan
  • Kazakhstan
  • Kenya
  • Kiribati
  • Korea
  • Kuwait
  • Kyrgyzstan
  • Lao People's Democratic Republic
  • Latvia
  • Lebanon
  • Lesotho
  • Liberia
  • Libya
  • Liechtenstein
  • Lithuania
  • Luxembourg
  • Macao (China)
  • Madagascar
  • Malawi
  • Malaysia
  • Maldives
  • Mali
  • Malta
  • Marshall Islands
  • Mauritania
  • Mauritius
  • Mayotte
  • Mexico
  • Micronesia (Federated States of)
  • Moldova
  • Monaco
  • Mongolia
  • Montenegro
  • Montserrat
  • Morocco
  • Mozambique
  • Myanmar
  • Namibia
  • Nauru
  • Nepal
  • Netherlands
  • Netherlands Antilles
  • New Zealand
  • Nicaragua
  • Niger
  • Nigeria
  • Niue
  • Norway
  • Oman
  • Pakistan
  • Palau
  • Palestinian Administered Areas
  • Panama
  • Papua New Guinea
  • Paraguay
  • Peru
  • Philippines
  • Poland
  • Portugal
  • Puerto Rico
  • Qatar
  • Romania
  • Russian Federation
  • Rwanda
  • Saint Helena
  • Saint Kitts and Nevis
  • Saint Lucia
  • Saint Vincent and the Grenadines
  • Samoa
  • San Marino
  • Sao Tome and Principe
  • Saudi Arabia
  • Senegal
  • Serbia
  • Serbia and Montenegro (pre-June 2006)
  • Seychelles
  • Sierra Leone
  • Singapore
  • Slovak Republic
  • Slovenia
  • Solomon Islands
  • Somalia
  • South Africa
  • South Sudan
  • Spain
  • Sri Lanka
  • Sudan
  • Suriname
  • Swaziland
  • Sweden
  • Switzerland
  • Syrian Arab Republic
  • Tajikistan
  • Tanzania
  • Thailand
  • Timor-Leste
  • Togo
  • Tokelau
  • Tonga
  • Trinidad and Tobago
  • Tunisia
  • Turkey
  • Turkmenistan
  • Turks and Caicos Islands
  • Tuvalu
  • Uganda
  • Ukraine
  • United Arab Emirates
  • United Kingdom
  • United States
  • United States Virgin Islands
  • Uruguay
  • Uzbekistan
  • Vanuatu
  • Venezuela
  • Vietnam
  • Virgin Islands (UK)
  • Wallis and Futuna Islands
  • Western Sahara
  • Yemen
  • Zambia
  • Zimbabwe
  • Topics list