BIS Review 75/2007  1  •  Fourthly Strengthening financial sector oversight by allowing greater autonomy to supervisory agencies and providing them with more resources to hire, train, and retain qualified staff. •  Fifthly Bringing financial infrastructure in line with international best practice by establishing commercial courts, strengthening corporate governance, and fostering a sound credit culture.
Regional integration can reinforce the progress made in financial sector reform. Useful lessons on regional financial integration can be learned from similar endeavours in other parts of the world. These experiences, particularly those of the European Union, suggest adopting a gradual approach and underscore the importance of sound macroeconomic frameworks and healthy domestic financial systems for successful financial integration.