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 The Financial Stability Forum (FSF) held its fourth Asia-Pacific regional meeting on 16th March in Sydney , Australia . Senior representatives from finance ministries, central banks and supervisory and regulatory authorities from 10 FSF member economies and 8 regional non-member economies attended the meeting. Senior officials from international institutions represented on the FSF, as well as the Asian Development Bank, also took part.
Amongst other subjects, participants shared their assessments of the potential impact of a flu pandemic on their economies and financial systems; the discussion benefited from a briefing by the World Health Organization. Delegates agreed on the need for business continuity planning, focusing in particular on maintenance of the operation of payments systems, and stressed the importance of effective communication in the event of a pandemic. They discussed areas in which there may be scope for risk-mitigating actions, including steps that financial authorities in individual countries in the region are already taking to ensure that their financial sectors prepare for such an event.
•Date: 17th March 2006• Region: Various • Type: Article •Topic: Financial sector BC
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