The BIS established its Representative Office for Asia and the Pacific (Asian Office) in Hong Kong SAR on 11 July 1998.
Serving as the regional centre for BIS activities, its principal roles are to
In fulfilling the above roles, the Asian Office focuses on the key activities set out below.
Asian Consultative Council
The Asian Office serves as the secretariat for the Asian
Consultative Council (ACC). The ACC is a vehicle for communication between
shareholding central banks in the region and the Board and Management of the
BIS on matters of interest and concern to the central banking community in the
region. The ACC is made up of the Governors of the BIS member central banks in
the Asia-Pacific region and is currently chaired
by Dr Zeti Akhtar Aziz, Governor of the Central Bank of Malaysia.
Meetings and research
The Asian Office hosts or supports meetings based in the region and
contributes to analysis on policy issues. The economic
and monetary research work of the office focuses on regional financial
markets and macroeconomic policy issues.
In 2006, a three-year policy-oriented Asian research programme was initiated. The Asian research programme is in collaboration with research departments of central banks, supervisory authorities and policy research centres. To pursue this programme, BIS has organised two research networks: (1) the research network for monetary policy and exchange rates and (2) the research network for financial markets and institutions.
Banking services and risk control
The Asian Office's regional treasury dealing room was established in October
2000 to enhance the level of banking services and
support to regional customers in managing their foreign exchange reserves. The
dealing room also serves to broaden the Bank's investments in the region.
Regional support in settlement operations commenced in 2005. Risk monitoring of
regional credits and markets is performed by an independent local Risk Control
unit.
Asian Bond Funds
The BIS manages a first Asian Bond
Fund, ABF1, and is the administrator for ABF2,
the second Asian Bond Fund pooling investments in a pan-Asian and eight
local funds with private sector participation, for the eleven members of
the Executives' Meeting of East Asia-Pacific Central
Banks (EMEAP). The Asian Office provides local support to these
initiatives, including analytical work on bond
markets in the region.