On October 13-14, the Brookings Institution and the Asian Development Bank Institute co-hosted a high-level international workshop on “Financial Regionalism: Lessons and Next Steps.” The workshop’s discussions centered around the prospect of the rise of regional financial arrangements following the recent establishment of the European Financial Stability Facility (EFSF), the multilateralization of the Chiang Mai Initiative (CMIM), the founding of an independent regional surveillance unit in Asia, as well as recent proposals about global financial safety nets.