asean regional financial intergration, zelda anthony, swift
TRANSCRIPT
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ASEAN Regional Financial Integration
What is happening and how is SWIFT supporting it?
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What is next?
How is SWIFT supporting financial integration?
What trends are we seeing?
ASEAN Regional Financial Integration Session
Introduction
Where are we today?
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Introduction: ASEAN Regional Financial Integration
ASEANAEC
ASEAN
Financial Integration
ASEAN payments
and settlement
system
(WCPSS)
What is happeningand how is SWIFT supporting it?
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ASEAN..
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ASEAN a Region with a lot of Potential
….
GDP USD 2.3 trillion
GDP Growth Projections remain around 5%
Population >600 million (approx. 9% global population)
Trading partners
China, Japan, EU, US, Korea, India, Australia
Market capitalisation
5.8% average growth rate for the region
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Rank Country
Total Traffic Payments Securities
May 14 YTD Avg Daily
Traffic
Weight in ASEAN
Growth vs May 13
May 14 YTD Avg Daily
TrafficRank
Growth vs May 13
May 14 YTD Avg Daily
TrafficRank
Growth vs May 13
1 Singapore 296,204 49% 12% 155,581 1 11% 114,246 1 16%
2 Thailand 87,183 14% 9% 58,286 2 13% 24,162 4 1%
3 Indonesia 83,853 14% 13% 39,308 3 6% 39,927 3 24%
4 Malaysia 75,879 13% 7% 30,347 4 8% 40,683 2 7%
5 Philippines 40,923 7% 9% 22,203 5 6% 15,450 5 17%
6 Vietnam 17,382 3% 13% 11,967 6 12% 1,416 6 21%
7 Cambodia 1,272 0% 12% 1,141 7 14% 2 7 21%
8 Brunei Darussalam 1,024 0% 1% 943 8 2% 1 8 12%
9 Myanmar 600 0% 12% 459 9 33% 0 9 -
10 Laos 483 0% 8% 395 10 15% - 10 -
FIN traffic in ASEAN49% of ASEAN traffic is sent from Singapore
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The Goal of Regional Economic Integration is AEC..
• Single market and production base• Highly competitive economic region• Region of equitable economic development• Fully integrated into the global economy
Transform ASEAN into a region with free movement of
goods, services, investment, skilled labour and freer flow of capital
ASEAN EconomicCommunity Blueprint by 2015
Characteristics:
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AEC 2015: Financial Integration Blueprint
Goal of the Blueprint
The achievement of a well-integrated and smoothly functioning regional
financial system, characterized by more liberalized
capital account regimes and inter-linked capital markets
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ASEAN Payment and Settlement System
An efficient payment system
is vital in strengthening the
link among ASEAN members
Source: The Road to ASEAN Financial Integration by ADB and ASEAN
Areas for enhancement, development and harmonization
i. Cross-border trade settlementii. Cross-border money remittanceiii. Cross border retail payment
systemsiv. Cross border capital market
settlementv. Standardization
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Agenda
What Trends Are We Seeing?
Qinwen Xiao
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Agenda
Moving Towards International Standards
Kiyono Hasaka
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Agenda
SWIFT’s Support for Financial Integration & what is next?
Usama Delorenzo