BIS to administer EMEAP's investments in ABF2

Press release  | 
16 December 2004

The EMEAP (Executives’ Meeting of East Asia and Pacific Central Banks) Group, comprising 11 central banks and monetary authorities in the East Asia and Pacific region,1 has today announced the launch of ABF2, the second stage of the Asian Bond Fund. ABF2 will invest in domestic currency bonds issued by sovereign and quasi-sovereign issuers in eight of the EMEAP markets.

The Bank for International Settlements (BIS) has been selected to act as the Fund Administrator for the EMEAP Group’s investments in ABF2, which will total around USD 2 billion.

Commenting on the launch of ABF2, BIS General Manager Malcolm Knight said, “ABF2 is a significant initiative that aims to bring real benefits to domestic capital markets in Asia by promoting fixed income investment and providing an impetus for improving market infrastructure. “

Bob Sleeper, Head of the BIS Banking Department, added, "We are very pleased to have been chosen by the EMEAP members to act as their Fund Administrator. This new role builds on our experience as the manager of the first stage of the Asian Bond Fund (ABF1) and marks a further important development in BIS banking activities in the Asia-Pacific region."

For more detailed information on ABF2, please refer to the press statements available on the websites of the 11 EMEAP members.

1 Reserve Bank of Australia, People’s Bank of China, Hong Kong Monetary Authority, Bank Indonesia, Bank of Japan, Bank of Korea, Bank Negara Malaysia, Reserve Bank of New Zealand, Bangko Sentral ng Pilipinas, Monetary Authority of Singapore, Bank of Thailand.