Weathering Financial Crises, Bond Markets in Asia and the PacificLocation: Basel Masaaki Shirakawa, Governor of the BOJ and Chair of the Asian Consultative Council of the BIS, and Jaime Caruana, General Manager of the BIS, delivered welcoming remarks. The seminar consisted of five sessions on (1) development of domestic bond markets; (2) development of off-shore bond markets; (3) credit derivatives and structured finance in Asia and the Pacific; (4) credit rating agencies; and (5) market liquidity. It concluded with a panel discussion on the impact of capital flows on bond market development in Asia. This volume is a collection of the welcoming remarks, a paper based on the background note for the seminar, a paper on domestic bond markets in emerging market economies, and a paper on local currency bond markets and the Asian Bond Fund 2 Initiative. The last paper served as a basis for the panel discussion by Jaime Caruana at the seminar. Weathering financial crises: bond markets in Asia and the Pacific
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