Joint Action

Mar 03, 2010 (LBO) – Sri Lanka will host the 46th conference of governors of South East Asian Central Banks (SEACEN) and 30th meeting of the SEACEN Board of Governors in February 2011, the Central bank said. It said in a statement that at the last meeting held in February 2010 in Cambodia, governors discussed the importance of policy coordination in unwinding economic stimulus measures.

Heads of the sixteen SEACEN central banks also recognized that solid prudential regulation and supervision is essential to prevent financial crises, it said.

“Given the complexity of the financial system and the broader scope of financial stability framework, there is a need for central banks to coordinate with other agencies domestically and internationally.”

Governors also noted the increasing importance of cross-border cooperation and coordination among host and home country regulators and monetary authorities as financial systems become more globally integrated.