Basel Committee releases home-host paper

The Basel Committee on Banking Supervision released a paper today, "High level principles for the cross-border implementation of the New Accord".

The paper is composed of six principles, the first of which states that the new Accord "will not alter the legal responsibilities of national supervisors for the regulation of their domestic institutions, or the arrangements for consolidated supervision already put in place by the Basel Committee."

Other principles state that the home country supervisor will be responsible for the oversight of the implementation of Basel II on a consolidated basis, and lead co-operation among supervisors with

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