Central Bank hosts FSB RCG Asia Meeting

The Financial Stability Board (FSB) Regional Consultative Group for Asia (RCG Asia) met on May 22, 2025, in Colombo.

The Central Bank hosted the meeting for the second time, following the successful hosting of the RCG Asia meeting in April 2024.

The meeting was co-chaired by Central Bank Governor Dr. Nandalal Weerasinghe and Hong Kong Monetary Authority Chief Executive Eddie Yue. 

Representatives from Australia, Brunei Darussalam, Cambodia, China, Hong Kong SAR, India, Indonesia, Japan, Korea, Malaysia, Pakistan, the Philippines, Singapore, Sri Lanka, Thailand and Vietnam participated in the meeting. 

Representatives from the FSB, International Monetary Fund and World Bank also attended.

The discussions at the meeting covered a broad range of issues relevant to financial system stability. Key topics included global and regional financial vulnerabilities, efforts to enhance cross-border payments, developments and risks associated with non-bank financial intermediation and regulatory reforms relating to securitisation markets. 

The members shared experiences, identified potential risks and explored collaborative approaches to strengthen financial resilience across the region.

The FSB has six Regional Consultative Groups, established under the FSB Charter, to bring together financial authorities from the FSB member and non-member countries to exchange views on the vulnerabilities affecting financial systems and on initiatives to promote financial stability.