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.
Over the period 2010-12, research in the Asian Office will focus on two overarching themes, one for the monetary stability group and one for the financial stability group.
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 Choongsoo Kim, Governor of the Bank of Korea.
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.
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.