It is therefore not merely a matter of lessening systemic risk. It is also a matter of identical competitive conditions, along the lines of “same business, same risks, same rules”. I am glad that the banking supervisory authorities are now working together in Basle beyond the range of the G-10 countries alone.
Although the responsibility will remain at national level in future, the closer international cooperation among national supervisory authorities will improve mutual information, in addition to devising common standards. VI Information and communication: these are the keywords for the interaction of the markets and for the globalisation of business.