Third, banking and securities regulation use a variety of tools which operate on different planes: prudential rules on capital and liquidity; corporate governance codes and fitness and probity standards; prescriptive rules how client assets are held or investment assets are custodied; minimum disclosure requirements and indeed rules on remuneration and fees. And so, the rule books which underpin banking and securities are quite different.
In addition to the triennial survey conducted by central banks, about 75 major financial institutions began, in June 1998, semi-annual reporting on their consolidated derivatives activity.