We want to explore the scope for more defined and potentially more formalised cooperation and coordination so that both sides are better placed to  BIS Review 55/2004  5  supervise their respective financial systems more efficiently and effectively.
And we want to have welldesigned structures for responding swiftly and effectively to cross-border financial crises in ways that recognise the respective roles of the relevant government agencies in each country. What would be the key elements in these arrangements?