On the other hand, the primary federal bank supervisor for an ILC may take enforcement action against the parent company or a nonbank affiliate of an ILC to address an unsafe or unsound practice only if the practice occurs in the conduct of the ILC's business.
In view of the many sources from which systemic risk can arise, better procedures are needed for systematically pooling and efficiently using the information available to these bodies in their assessment of domestic financial vulnerabilities and global conditions.“ in Tietmeyer, H. “Report on international cooperation and coordination in the area of financial market supervision and surveillance”, Bank for International Settlements, 11 February 1999.