3  This definition draws from the IMF’s glossary of financial terms (http://www.imf.org/external/np/exr/glossary/index.asp). 4  In this speech, emerging markets refer to a group of economies selected from the EU neighbouring regions, Latin America and Asia, in line with the article entitled “Financial flows to emerging market economies: changing patterns and recent developments” published in the ECB’s Monthly Bulletin of January 2005 (pp. 59-73).
To that end, the UAB can play an important regional role by facilitating efforts to address potential cross-border issues, and by providing a local platform for strong cooperation between home and host supervisors during normal and crisis periods. At your conference this week, I anticipate you will discuss the opportunities and challenges that lay ahead for your members.