The second ABF, launched in June 2005,  4  BIS Review 87/2006  aims to promote local currency bond markets, by establishing a Pan-Asian Bond Index Fund (PAIF) and eight single-market funds (SMFs). III.
Degree of comfort  The concept of adequacy of reserves is popular but it is also possible, from a practitioner's perspective, to view reserves in terms of degree of comfort they provide at various levels. Such a perspective is more dynamic and contextual.