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Author: Asian Development Bank Publisher: Asian Development Bank ISBN: 9292570579 Category : Business & Economics Languages : en Pages : 84
Book Description
The Asian Development Bank (ADB) has been working closely with the Association of Southeast Asian Nations (ASEAN) and the People's Republic of China, Japan, and the Republic of Korea---collectively known as ASEAN+3---to foster the development of local currency bond markets and facilitate regional bond market integration under the Asian Bond Markets Initiative (ABMI). ABMI was launched in 2002 to strengthen the resilience of the region's financial system by developing local currency bond markets as an alternative source to foreign currency denominated short-term bank loans for long-term investment. Bond investors typically have a long position in local currency bond markets. To manage their foreign exchange (FX) risk, they may want to hedge that exposure for a period of time. They also want to be sure they can easily convert the local currency to dollars upon the sale of a bond. This study was undertaken under ABMI and funded by the Government of Japan. It reviews the FX and FX hedging markets in ASEAN+3 as they relate to cross-border investments in local currency bonds, and makes recommendations to facilitate the development of the markets and FX risk management.
Author: Asian Development Bank Publisher: Asian Development Bank ISBN: 9292570579 Category : Business & Economics Languages : en Pages : 84
Book Description
The Asian Development Bank (ADB) has been working closely with the Association of Southeast Asian Nations (ASEAN) and the People's Republic of China, Japan, and the Republic of Korea---collectively known as ASEAN+3---to foster the development of local currency bond markets and facilitate regional bond market integration under the Asian Bond Markets Initiative (ABMI). ABMI was launched in 2002 to strengthen the resilience of the region's financial system by developing local currency bond markets as an alternative source to foreign currency denominated short-term bank loans for long-term investment. Bond investors typically have a long position in local currency bond markets. To manage their foreign exchange (FX) risk, they may want to hedge that exposure for a period of time. They also want to be sure they can easily convert the local currency to dollars upon the sale of a bond. This study was undertaken under ABMI and funded by the Government of Japan. It reviews the FX and FX hedging markets in ASEAN+3 as they relate to cross-border investments in local currency bonds, and makes recommendations to facilitate the development of the markets and FX risk management.
Author: Asian Development Bank Publisher: Asian Development Bank ISBN: 9292570153 Category : Business & Economics Languages : en Pages : 256
Book Description
The Asian Development Bank (ADB) is working closely with the Association of Southeast Asian Nations (ASEAN) and the People's Republic of China (PRC), Japan, and the Republic of Korea---collectively known as ASEAN+3---to develop local currency bond markets and facilitate regional bond market integration under the Asian Bond Markets Initiative (ABMI). ABMI was launched in 2002 to strengthen the resilience of the region's financial system by developing local currency bond markets as an alternative source to foreign currency-denominated, short-term bank loans for long-term investment financing. The need for infrastructure investment among ASEAN+3 members is well documented, with estimates for needed investment through 2020 reaching as high as $550 billion. Local currency financing of infrastructure projects has the important advantage of avoiding the currency risk that can arise when a project generating revenues in the domestic currency has foreign currency-denominated debt service requirements. This study was undertaken under ABMI and funded by the Government of the PRC. It addresses two key questions: (i) Why is local currency bond financing not more widely used for infrastructure projects in ASEAN+3? and (ii) What can be done to promote infrastructure bond financing?
Author: Asian Development Bank Publisher: Asian Development Bank ISBN: 9292570803 Category : Business & Economics Languages : en Pages : 332
Book Description
The ASEAN+3 Multi-Currency Bond Issuance Framework (AMBIF) is a policy initiative of the Asian Bond Markets Initiative to create a nexus among domestic professional local currency bond markets in the region by facilitating intra-regional transactions through standardized bond and note issuance and investment processes. This report follows up on the proposal described in the Phase 2 Report of the ASEAN+3 Bond Market Forum (Sub-Forum 1), published in April 2014, to provide procedures on how to implement AMBIF in the region. AMBIF is expected to facilitate intra-regional bond and note issuance and investment by creating common market practices; utilizing a common document for submission, the Single Submission Form; and highlighting transparent issuance procedures as documented in the Implementation Guidelines for each participating market. The report also contains a set of Frequently Asked Questions to provide interested parties, including issuers in the region, with an easy reference for their potential queries and concerns on the implementation of AMBIF.
Author: Asian Development Bank Publisher: Asian Development Bank ISBN: 9292575988 Category : Business & Economics Languages : en Pages : 121
Book Description
The Singapore bond market has become one of the most developed open capital markets in Asia with over US$221 billion in total local currency bonds outstanding with an additional US$53 billion of bonds outstanding. The Singapore Bond Market Guide is an outcome of the support and contributions of ASEAN+3 Bond Market Forum members and experts, particularly from Singapore, while the ASEAN+3 Bond Market Guide as a whole is a comprehensive explanation of the region’s bond markets. This report should be recognized as a collective good to support bond market development among ASEAN+3 members.
Author: Asian Development Bank Publisher: Asian Development Bank ISBN: 9292578448 Category : Business & Economics Languages : en Pages : 69
Book Description
The Asian Bond Markets Initiative (ABMI) was launched in December 2002 by the Association of Southeast Asian Nations (ASEAN) and the People’s Republic of China, Japan, and the Republic of Korea---collectively known as ASEAN+3 to strengthen financial stability and reduce the region’s vulnerability to the sudden reversal of capital flows. This paper also provides recommendations for addressing new sources of market volatility and other challenges within and outside the framework of the Asian Bond Markets Initiative.
Author: Shinji Kawai Publisher: Asian Development Bank ISBN: 9292544497 Category : Business & Economics Languages : en Pages : 730
Book Description
This report, consisting of three parts, is the result of Phase 2 studies of the ASEAN+3 Bond Market Forum Sub-Forum 2 and enhances the findings of Phase 1. Part 1 provides an overview of ASEAN+3 bond markets and their infrastructure. Part 2 reports on the bond market-related issues of economies in the region. Part 3 contains diagrams of ASEAN+3 bond market infrastructures, domestic bond transaction flows, and cross-border bond transaction flows.
Author: Asian Development Bank Publisher: Asian Development Bank ISBN: 9292623427 Category : Business & Economics Languages : en Pages : 347
Book Description
The ASEAN+3 Bond Market Guide series provides country-specific information on the investment climate, rules, laws, opportunities, and characteristics of local bond markets in Asia and the Pacific. It aims to help bond market issuers, investors, and financial intermediaries understand the local context and encourage greater participation in the region’s rapidly developing bond markets. This edition focuses on the Inter-Bank Bond Market in the People’s Republic of China, which is one of the country’s most important bond markets and one of only two that are accessible to foreign investment.
Author: Tom Kirchmaier Publisher: Asian Development Bank ISBN: 9292629026 Category : Business & Economics Languages : en Pages : 104
Book Description
Knowledge is critical in addressing the complex challenges of development and poverty reduction faced by the Philippines. This compendium discusses the progress and achievements of the Asian Development Bank (ADB) in line with The Philippines Country Knowledge Strategy and Plan, 2012–2017 and presents various knowledge products and services focusing on the country. As a development and knowledge-based institution, ADB’s strategic directions to support the knowledge needs of the Philippines focuses on (i) sustainable and climate- and disaster-resilient infrastructure; (ii) local economic development, governance, and regional cooperation; (iii) social innovations; and (v) gender equality.
Author: Asian Development Bank Publisher: Asian Development Bank ISBN: 9292578782 Category : Business & Economics Languages : en Pages : 185
Book Description
ASEAN+3 Bond Market Guide is a comprehensive explanation of the region's bond markets. It provides information such as the history, legal and regulatory framework, specific characteristics of the market, trading and transaction (including settlement systems), and other relevant information. The Bond Market Guide 2017 for Indonesia is an outcome of the support and contributions of ASEAN+3 Bond Market Forum members and experts, particularly from Indonesia.
Author: Geert Almekinders Publisher: International Monetary Fund ISBN: 1498315283 Category : Business & Economics Languages : en Pages : 43
Book Description
The establishment of the ASEAN Economic Community (AEC) at end-2015 has brought into sharp focus the issue of financial and economic integration in the region. This paper takes stock of ASEAN’s financial integration and prospects. ASEAN integration could accelerate in the years ahead; it will likely be a safe, gradual process consistent with the “ASEAN way” of consensus decision-making. Properly phased and sequenced, closer financial integration has the potential to help increase real incomes and accelerate real convergence within ASEAN and narrow the region’s gap with advanced Asia. Realizing the promise of financial integration will require ASEAN countries to make long-term investments in financial infrastructure. Policymakers can draw on the experience of their more advanced peers and of other regions. Gradualism and safeguards should not be excuses for inaction or financial protectionism. Reliance on flexible policy frameworks and a strengthened and tested regional financial safety net should be part of the agenda. Closer engagement with the Fund could also help.
Author: Asian Development Bank
Author: Asian Development Bank
Author: Asian Development Bank
Author: Asian Development Bank
Author: Asian Development Bank
Author: Asian Development Bank
Author: Shinji Kawai
Author: Asian Development Bank
Author: Tom Kirchmaier
Author: Asian Development Bank
Author: Geert Almekinders