Basel Committee releases cross-border paper
NEW YORK - The Basel Committee has released a new consultation paper outlining proposals to foster closer co-operation and better communication between regulators in different countries for the supervision of internationally active banks.
The paper, entitled Home-host information sharing for effective Basel II implementation, seeks to address some of the complications posed by financial institutions opting for the advanced measurement approach (AMA) that have a subsidiary presence in more than one jurisdiction, and to provide a flexible, principles-based approach to the issue of cross-border implementation.
The consultation calls for greater information sharing between supervisors in different nations, but places the supervisory
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