Among them is the largest reinsurer in the world. In addition, the internationality of Frankfurt and Munich is an important aspect. Frankfurt hosts the head offices of as many as 136 foreign banks, among them 13 Japanese banks. Frankfurt has a lively (English speaking) international financial community.
If you consider that a scientific committee is necessary it can always be added to the whole setup without eliminating a necessary component of the preparatory work for the General Board. The second point I wish to comment upon relates to the need to move trade in credit derivatives, especially trade in credit default swaps (CDSs), to organized exchanges.