Joint Media Release 15th Executives' Meeting of East Asia-Pacific Central Banks (EMEAP) Governors' Meeting

The 15^th Executives' Meeting of East Asia-Pacific Central Banks (EMEAP) Governors' Meeting was held in Sydney on 21–23 July 2010. The eleven EMEAP member central banks and monetary authorities participated in the Meeting. Mr Glenn Stevens, Governor of the Reserve Bank of Australia, chaired the Meeting.

The Governors discussed proposed changes to international regulatory standards, focusing on the implications of these proposals for financial systems in the region. They also shared their views on recent financial and economic developments, including the outlook for growth and inflation in the region.

The Governors noted the report of the 38^th EMEAP Deputies' Meeting and received updates from the Monetary and Financial Stability Committee on its research and surveillance activities. They also discussed progress made across the spectrum of other EMEAP activities, including co-operation in the areas of financial markets, banking supervision, payment and settlement systems and information technology.

The Governors expressed their appreciation to the Reserve Bank of Australia for hosting the Meeting. The 16^th EMEAP Governors' Meeting will be hosted by the Bank of Korea in 2011.