23  The G-20 leaders agreed that “jurisdictions and regulators should be able to defer to each other when it is justified by the quality of their respective regulatory and enforcement regimes, based on similar outcomes, in a non-discriminatory way, paying due respect to home country regulation regimes.” See “Jurisdictions’ Ability to Defer to Each Other’s OTC Derivatives Market Regulatory Regimes,” FSB report to G20 Finance Ministers and Central Bank Governors, 18 September 2014, at www.financialstabilityboard.org/wpcontent/uploads/r_140918.pdf.
6  BIS central bankers’ speeches  For instance, Canada and the United States should consider the option of a bilateral agreement on the resolution of banks with cross-border operations in order to clarify responsibilities and enhance co-operation. 24 We have a long history of stable financial and economic integration, and U.S. financial institutions and legal frameworks are similar to ours.