We need to ensure that the financial system continues to play a vital role in intermediating savings for providing adequate levels of funding to the real sector, thereby supporting economic growth. It needs to be recognized that financial markets will remain global and interconnected, while financial innovation would continue to be important to foster economic efficiency.
On this point, the ASEAN+3 economies have started discussing a possible cross-border linkage between the securities settlement system in one country and the funds settlement system in another with a view to establishing a cross-border securities settlement infrastructure in the region. The Bank is also participating in this discussion.