For the purposes of today’s discussion, however, I would like to focus my remarks on the institutions at opposite ends of the spectrum. 7  When the Basel Committee on Banking Supervision recently issued rules for global banks that are systemically important, the methodology for determining system importance was based on five criteria: size, interconnectedness, lack of available substitutes, global/cross-jurisdictional activity, and complexity.
A good example of this is the recent collaboration of the European System of Central Banks and the European Banking Authority (EBA) through the Joint Expert Group on Reconciliation of credit institutions’ statistical and supervisory reporting requirements. The second edition of the group’s report has just been published on the websites of the ECB and the EBA.