While national disaster risk management efforts are important, ASEAN member states can achieve even more by taking collective responsibility, and adopting a coordinated approach to building a regional platform in order to: Collect good quality, high resolution data, which is necessary to quantify ASEAN’s economic and insurance exposure to disasters Enhance capacity building, learn from each other’s experience and consolidate best practices, as well as equip policymakers with knowledge on enabling legal and regulatory frameworks to deploy disaster risk financing solutions; and Third, develop robust regional disaster risk financing solutions such as regional sovereign risk pools and catastrophe bond programmes. 10. Over the past decade, ASEAN has made notable progress to institutionalise disaster risk management across the region. Specifically, it has put in place the necessary coordinating platforms to manage disaster risks holistically across the entire value chain of disaster risk assessment, disaster risk financing and disaster risk response. First, Disaster Risk Assessment. In 2013, the ASEAN Cross Sectoral Coordinating Committee on Disaster Risk Financing and Insurance (ACSCC) was established to strengthen regional coordination of disaster risk management. ACSCC brings together 3 key stakeholder groups: Finance Ministers and Central Banks represented by the ASEAN Finance and Central Bank Deputies Meeting (AFCDM); Insurance regulators represented by the ASEAN Insurance Regulators Meeting (AIRM), and the National Disaster Management Organisations which are represented by the ASEAN Committee of Disaster Management 2 (ACDM).
Jean-Claude Trichet: Financial integration in Europe and important financial sector issues Keynote speech by Mr Jean-Claude Trichet, President of the European Central Bank, at the Second Symposium of the ECB-CFS research network on “Capital Markets and Financial Integration in Europe”, Frankfurt am Main, 13 February 2008. *  *  *  Ladies and Gentlemen, It is a great pleasure for me to address such a distinguished audience of researchers, market participants and policy makers here at the Second Symposium of the ECB-CFS research network on “Capital Markets and Financial Integration in Europe”. As you will probably all appreciate, we are living in challenging times right now. And many, although not all, of the main challenges relate to financial sectors. So, for my remarks today I have made a selection of important financial sector issues, some more structural and others more related to recent developments. My presentation is divided into two broad parts. In the first part, I would like to broadly address the importance of financial integration in Europe, review the current state of integration and tell you about our activities in this area. In the second part I would like to look at one specific part of the European regulatory set-up that has been less often discussed in the past in relation to financial integration, namely the structure of deposit insurance schemes. I will conclude by some remarks on the present very significant market corrections and financial turbulences that we experienced in the international financial system since the summer last year.