And that is undoubtedly true for monetary policy – protagonists in the world of European monetary policymaking get together once a fortnight, most recently earlier today in the ECB Governing Council, as well as at many other joint occasions.
For two broad reasons, U.S. banking supervisors give a great deal of thought to the foreign banking organizations here. First, the management of complex international banking businesses creates inherent risks, which must be mitigated through sophisticated enterprise-wide risk management and internal controls. International organizations face difficult questions of management and control across their geographically dispersed offices.