Other developments of our financial system I have mentioned before, such as the concentration process in the banking sector, the creation of financial conglomerates or bank-insurance companies  2  BIS Review 29/2004  and the development of cross-border activities, also call for a reassessment of our regulation mechanisms.
However difficult it has proved to achieve a convergence between the national supervisory authorities in the banking sector, the next daunting challenge will most probably be, in my opinion, to enlarge that convergence to other segments of the financial system. I would like to thank all speakers and discussants taking part in this conference.