Opening of the BIS Asia Pacific Regional Treasury Dealing Room

The Bank for International Settlements (BIS) is pleased to announce the opening of its Asia-Pacific Regional Treasury dealing room.

Earlier this year the Board of Governors of the BIS decided to expand the Bank's activities in the Asia-Pacific region by establishing a Regional Treasury dealing room in its Representative Office for Asia and the Pacific. The dealing room commenced operations in October. The main purpose of the new dealing room is to provide central banks with access to BIS banking services during trading hours in the Asian time zone. It also provides the BIS with an opportunity to strengthen banking relationships with its commercial counterparties in the region.

Commenting on the new initiative, BIS General Manager Andrew Crockett said: "The expansion of the Bank's activities in the Asia-Pacific region reflects the growing importance and involvement of the region's central banks in the work of the BIS." Bob Sleeper, Head of the BIS Banking Department, noted that: "This new dealing room, working in tandem with our head office operations in Basel, will ensure that the BIS continues to provide a first-class banking service to the central bank community in the Asia-Pacific region."

The BIS established its Representative Office for Asia and the Pacific in Hong Kong SAR in July 1998. The principal roles of the Representative Office are to enhance cooperation between central banks in the region, to further develop the BIS's banking services for regional central banks and to act as a regional centre for monetary and economic research on issues of interest to central banks.

For further enquiries please contact (in Hong Kong SAR):

• George Pickering, Chief Representative, BIS Asian Office
• Guy M Q Henriques, Head of Regional Treasury, BIS Asian Office

Tel. + 852 2878 7100, Fax. +852 2878 7123

E-mail: guy.henriques@bis.org