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Statement by Financial Market Committee on Brexit

Ref No : 06/16/06 23 Jun 2016 Embargo : For immediate release    

The United Kingdom referendum on their EU membership is taking place on 23 June 2016 with the results expected on the afternoon of Friday 24 June 2016 between 2.00 – 4.00 p.m. local time. Given the significance of the event, the impact and volatility could spillover onto financial markets.

Bank Negara Malaysia, together with the Malaysian financial market participants, are monitoring and will remain vigilant to any potential emerging risks and challenges to the domestic financial markets. It should be emphasised that liquidity in the domestic market remain ample and our financial markets are well positioned to face any major volatility. Financial market players stand ready to support the orderly functioning and smooth intermediation in the financial markets.

The Financial Market Committee (FMC) also would like to inform that its members will continue to provide the liquidity to the financial markets as required. On Friday, 24 June 2016, the market players will commence the operating hours early and trading will be extended to 6.00 p.m. to facilitate market transactions for all market participants.
 

Financial Market Committee (FMC)
23 June 2016

About Financial Market Committee

The Financial Markets Committee (The Committee) is established with the objective to broaden industry engagement with a focus in reviewing and formulating comprehensive strategies for the wholesale financial markets to meet the diverse and complex demands of a more developed and internationally integrated economy.

The Committee comprises of participants/representatives from Bank Negara Malaysia, financial institutions, corporations, financial service providers and other institutions or stakeholders which has prominent role or participation in the financial markets.

The Committee also aims to provide a senior-level forum for market participants to meet regularly to discuss matters and potential issues and risk relating to the development of Malaysian financial market.

 

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