The Association of Southeast Asian Nations (ASEAN) will be closely monitoring global banking issues and their potential spillover effects in the region. Indonesia's central bank has emphasized the need for ASEAN to be vigilant and prepared for any adverse effects of global banking problems on the region's financial stability. The central bank has been working to strengthen ASEAN's financial resilience, including through initiatives such as the ASEAN Payment Connectivity Framework and the ASEAN Banking Integration Framework. The central bank has also been collaborating with other regional and international organizations, such as the Financial Stability Board and the International Monetary Fund, to address global banking issues and promote financial stability in ASEAN.
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Source: Antaranews
March 29, 2023
