Announcement of the 3rd meeting of the Financial Stability Forum on 25-26 March 2000 in Singapore

The Financial Stability Forum (FSF) will hold its third meeting at the Monetary Authority of Singapore (MAS) on 25-26 March 2000.

At the Singapore meeting, the three FSF Working Groups set up in April 1999 to address concerns related to highly leveraged institutions (HLIs), capital flows (CFs) and offshore financial centres (OFCs) will submit their reports and recommendations for consideration by the Forum. The Forum will also discuss reports on ways to foster further implementation of international standards to strengthen the financial system, the case for setting out international guidance on deposit insurance schemes, and developments in the insurance industry.

The international press are invited to attend a press briefing by the Chairman of the FSF and the three Chairmen of the FSF Working Groups following the meeting on Sunday 26 March. The press briefing will be held at 7 pm at the MAS building, and the contact number for press enquiries in Singapore at the MAS is +65 / 229 9203. Arrangements are being made for news teleconferencing, details of which will be sent to you shortly.

The FSF was created in February 1999 by G7 Finance Ministers and Central Bank Governors to promote international financial stability through enhanced information exchange and international cooperation in financial market supervision and surveillance. It brings together on a regular basis national authorities(1) responsible for financial stability in significant international financial centres, international financial institutions, sector-specific international groupings of regulators and supervisors, and committees of central bank experts. The FSF is chaired by Mr Andrew Crockett, General Manager of the Bank for International Settlements, in his personal capacity.

For further information on the FSF, its membership, and previous FSF meetings, and information on the three FSF Working Groups, please see the FSF website located at www.fsforum.org.

1 These include senior officials from G7 countries as well as Australia, Hong Kong SAR, the Netherlands and Singapore.