"Foreign Direct Investment and Output Growth," in Wanda Tseng and Markus Rodlauer, eds., China: Competing in the Global Economy. Washington: International Monetary Fund, pp. 89-100. 8  BIS Review 124/2006
I believe that central banks do not necessarily need to assume ultimate responsibility for supervision. The key imperative is, rather, for supervisory agencies and central banks to cooperate efficiently and, above all, to exchange information. In my view, this would be consistent with central bank involvement in operational supervision.