The constructive two-way engagement and information sharing that the forum provides has given us a better understanding of other Asian central banks’ perspectives – including on where we differ, where we have common ground, and where we can learn from others.
Small country perspective I’ll turn now to some small country perspectives on global financial sector regulatory reform and illustrate them briefly with New Zealand’s approach to prudential supervision. My main point is that: while it’s critical that the global regulatory response addresses regulatory arbitrage, it’s important also that small and large countries alike understand each other’s needs.