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The level and extent of resolving structural banking sector
problems in the aftermath of the Asian financial crisis
have varied across the region, resulting in different degrees
of stability. Asian economies are taking a range of approaches
to restructure their banking sectors in line with their
specific characteristics and complexity of problems faced.
At the same time new challenges and opportunities are arising
from global financial market trends and developments and
from World Trade Organization commitments. South Korea,
China, Japan, Singapore and India are making strides to
encourage more bank regulation as globalization has encouraged
foreign bank entry into the region.
Banking sector restructuring measures, in turn, have impacted
on the way non-financial enterprises function and raise
financing. Current pressures in the Australian and New Zealand
financial systems involve consolidation among the largest
banks, the formation of large financial conglomerates, and
greater opportunities for smaller niche institutions provided
by technological developments.
For further information on the Austral-Asian Banking System,
click on the following Central Bank Links:
Australia
Reserve Bank of Australia: http://www.rba.gov.au
Singapore
Monetary Authority of Singapore: http://www.mas.gov.sg/
Hong Kong
Hong Kong Monetary Authority: http://www.info.gov.hk/hkma/
India
Reserve Bank of India: http://www.rbi.org.in/
China
The People’s Bank of China: http://www.pbc.gov.cn/english
South Korea
Bank of Korea: http://www.bok.or.kr/index.jsp
Japan
Bank of Japan: http://www.boj.or.jp/en/index.htm
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