To summarize, (1) the Bank holds that the basic views stated by the Central Bank Study Group -- that is, ensuring central bank independence and enhancing transparency -- should be clearly stated in the law; and (2) the Bank believes that further deliberations should be conducted on several issues regarding the relationship between the government and the central bank, on which the Central Bank Study Group was unable to reach conclusions, so as to duly reflect the two concepts of independence and transparency.
These efforts are intended to better ensure consistency in the Bank Secrecy Act and anti-money-laundering supervision programs of the bank regulators and FinCEN - the entity within the U.S. Treasury that is statutorily responsible for the implementing the Bank Secrecy Act.