This search for co-operation results from the limits to concentration and the desire to avoid customer anonymity which can so often be an accompaniment to large size. Regulation is becoming very international and as a regulator, we, in the Central Bank follow what is happening in the discipline.
Most audit firms, for example, are part of an international franchise and are required to adhere to the requirements of head office. Most of these requirements are international though in some cases, I am advised that separate franchises were created for the Caribbean region.