7  In the decade leading up to financial crisis, global banks’ cross-border claims as a share of world GDP increased tenfold, from 6 per cent in 1995 to 60 per cent in 2007.
2  BIS central bankers’ speeches  Every jurisdiction has different requirements, and our view is that we must ensure that jurisdictions don’t go too far down the road toward more domestically oriented financial system reforms. In an interconnected world, the actions of one country affect others. If all jurisdictions act in their own national interest, narrowly defined, everyone could be left worse off.