In the short run, the coexistence of SEPA schemes in parallel with the national schemes is, for example, expected to lead to initial investment costs and a relatively neutral impact on the revenue side for the banking industry.
Third, regional frameworks such as the Chiang Mai Initiative can play a vital role in maintaining financial stability in the region. It reflects the unique characteristics of the region and provides strong incentives to countries in the region to work together. At the same time, it does not replace existing international financial arrangements, but rather supplements them.