The Hong Kong Monetary Authority, Bank Negara Malaysia and the Monetary Authority of Singapore on Wednesday established a working group to map out a strategy for exiting from their full deposit guarantees.
The monetary authorities said that they planned to exit their full deposit guarantee by the end of 2010.
All three countries offered full deposit guarantees to shore up consumer confidence in the aftermath of Lehman Brothers' collapse.
Click here to read the central banks' statement
- World’s largest SWF bars investment in four companies for guideline breaches
- ECB needed better data in 2008 crisis, says Lautenschläger
- Brazilian government must respect central bank independence – IMF
- Seychelles must act fast on money-laundering, says central bank
- Is the pursuit of a common accounting standard for gold a fool’s errand?