Asia-Pacific Central Banks Agree to Enhance Info-Sharing

Tokyo, Oct. 30 (Jiji Press)--Asia-Pacific central banks said
Thursday that they have agreed to step up cooperation in information-sharing and joint monitoring activities in response to the global financial crisis.

Limited exposures to foreign troubled assets "have helped to
mitigate the negative impact of the crisis on financial institutions and
markets in member economies," 11 East Asian and Pacific central banks said
in a statement.
"Their ability to withstand external shocks has been further
strengthened by preemptive and precautionary measures undertaken by the
various authorities to address liquidity and confidence issues in the
financial system," the statement said.
"Member central banks will continue to jointly monitor closely
ongoing developments given that the current global financial environment
remains uncertain," the statement said.
The statement was issued by the Monetary and Financial Stability
Committee of the Executives' Meeting of East Asia-Pacific Central Banks.
The committee held a number of special teleconferences among the 11
members, including the Bank of Japan, the People's Bank of China and the
Monetary Authorities of Singapore, to assess the impact of the collapse of
U.S. investment bank Lehman Brothers Holdings Inc. in mid-September.