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Byline: Rupa Damodaran
CENTRAL banks need supporting legal framework to address the dynamic changes in conditions in the current global financial system, says Bank Negara Malaysia governor Tan Sri Dr Zeti Akhtar Aziz.
She said those in the advanced financial systems have resorted to unorthodox measures to prevent a systemic collapse of the global financial system.
"While action has been based on the sense of urgency and to avoid a total collapse of the system, in the aftermath of the crisis, an extensive review of the legislation needs to be made," she said in her keynote address at the fifth Banking and Financial Law School 2009 conference in Kuala Lumpur …