12  The Global Documentation Steering Group (GDSC) is an industry group formed in 1999 to implement the documentation-related recommendations of the report of Counterparty Risk Management Policy Group (CRMPG). The primary objective of the Committee is to encourage the harmonisation of documentation in standard over-the-counter contracts in order to minimise disparities that can exacerbate market, credit and legal risk. It took the lead in updating the recommendations on documentation issues for the second CRMPG report released in 2005. GDSC is sponsored by, but independent of, the Federal Reserve Bank of New York. The hedge fund community is represented on the GDSG. The Stock Lending and Repo Committee, facilitated and chaired by the Bank of England, provides a forum for practitioners and the authorities to discuss structural (including legal) developments in London-based securities lending and repo markets. 6  BIS Review 44/2007  At the macro end of the spectrum, that above all means credible monetary regimes. The MPC is now ten years old. During that period, inflation expectations have been well anchored to our target. And no one should be in any doubt that the Committee is determined to keep it that way. But a credible monetary regime does not insulate the economy, or financial markets, against all shocks. Over the coming decade, some currently observable imbalances will plausibly work their way through the system, as the pattern of global saving shifts, asset prices adjust, and we encounter, eventually, a period of corporate defaults.
Nor Shamsiah Mohd Yunus: Welcoming remarks - BNM Sasana Symposium 2023 Welcoming remarks by Ms Nor Shamsiah Mohd Yunus, Governor of the Central Bank of Malaysia (Bank Negara Malaysia), at the BNM Sasana Symposium 2023, Kuala Lumpur, 8 June 2023. *** Distinguished guests, central bank officials and payment system operators from Indonesia, Singapore, and Thailand, ladies and gentlemen. Assalamualaikum warahmatullahi wabarakatuh and good morning. Welcome to the inaugural BNM Sasana Symposium! Every year, in March, Bank Negara Malaysia publishes our Annual Report, along with the Economic and Monetary Review, and the biannual Financial Stability Review. We also publish our Quarterly Bulletins. These reports describe how we have discharged our mandates over the past year, and provide our thinking, analyses and assessments on the economy and financial system. In the reports, we also discuss important ideas and pressing issues affecting the economy and financial sector in feature articles that help inform and shape long-term initiatives that are necessary to strengthen our economic fundamentals. One of the ways we hold ourselves accountable to the rakyat through our flagship publications is by explaining the key considerations behind the decisions and measures that we take, and the priorities that guide our work. Often, this involves complex policy trade-offs that have to be carefully balanced from many angles. Our reports, as well as any communications from us, such as our Monetary Policy Statements, often generate lively conversations all around the country – in the press, on social media, and at the dinner table.