measures implemented to strengthen domestic frameworks. these include wide ranging measures to develop regional financial markets, to improve liquidity management across borders, to strengthen cooperation networks for the supervision of regionally - active financial institutions and to establish regional infrastructure to enhance the efficiency and lower the risks associated with cross - border payments and settlements. regional arrangements between central banks and supervisory authorities have also been significantly strengthened to actively share information on emerging risks to regional stability and where necessary to coordinate regional responses. an important part of this includes the ongoing work to enhance the frameworks for crisis management including the orderly resolution of financial institutions with significant cross - border operations. within the asean region, measures are currently being pursued to promote greater consistency in the adoption of regulatory and supervisory standards in anticipation of a larger role for asean banks in driving regional integration as part of the broader agenda to realise an asean economic community by 2015. collectively, these arrangements aim to ensure that the expansion of bis central bankers ’ speeches cross - border financial linkages takes place within a framework and process that adequately mitigates systemic risk across borders. fifth, central banks and regulatory authorities in most emerging economies in asia have the broader mandate that includes a focus on the development of the financial sector as a means not only to enhance the growth and development potential, but also to reinforce a strong foundation for financial stability. in malaysia, the development and reform of the financial sector in the decade that followed the asian financial crisis has not only developed the financial sector to better serve the malaysian economy, but it has also better positioned financial institutions to withstand the destabilising episodes emanating from external shocks. this has included strengthening financial intermediaries, not only in terms of scale but also in their financial positions, risk management and governance practices. this has contributed to more efficient financial intermediation while improving access to financing, particularly for small and medium scale businesses. efforts to develop a vibrant capital market have meanwhile opened up alternative channels for financing, while mitigating concentration risk in the financial system and enhancing its ability to absorb large and volatile cross - border capital flows. these factors will place asia on a firm foundation to achieve its growth and development goals. while public policy clearly has an important role, it is as important for the financial industry to align itself with the desired outcomes of sustainable growth within a longer term horizon. this will involve a number of important considerations for financial institutions, including the rethinking of business models in the light of a re - assessment of risk and return expectations

jessica chew cheng lian : launch of financial literacy month 2022 opening remarks by ms jessica chew cheng lian, deputy governor of the central bank of malaysia ( bank negara malaysia ), at the launch of financial literacy month 2022, kuala lumpur, 1 october 2022. * * * 1. it is my great pleasure to welcome you to sasana kijang for the launch of the financial literacy month 2022. on behalf of the financial education network, i thank you for your presence here to join us in flagging off a month - long roadshow to help people across the country build greater confidence in financial matters. it is especially gratifying for our teams to be able to go on the road again, to meet and talk to people in person after what has been a difficult period for many. 2. this is the third year that the financial education network is holding a financial literacy month. and while we have lined up many activities and programmes over the coming month, i know that no one here believes financial education starts and stops within a month. i was reminded again of this as we are about to share the results of the most recent financial capability and inclusion demand side survey, or the fci survey, in short, that was conducted in 2021. this is a survey that we carry out once in every three years to track how the level of financial capability in our society – measured in terms of financial knowledge, behaviour and attitudes – is changing over time. 3. the good news is that malaysia's financial capability and literacy index score has improved since the last survey. but behind that index score are much more layered observations of our society's financial attitudes and behaviours. and they reveal that putting financial knowledge into the hands of individuals is just the start. helping people use that knowledge wisely and effectively in order to bring about lasting changes in behaviour is the race that all of us here are running together - to help as many people as possible reach the finish line of their financial goals. more details on the results of the 2021 fci survey will be available in the upcoming publication of bank negara malaysia's financial stability review which will happen in the coming week. 4. for those of you who may not be familiar with the financial education network, or fen, we are an inter - agency platform of eight partner institutions that are committed to raising the level of financial literacy in malaysia. in 2019, fen developed a five - year national strategy for financial literacy which is currently