Harmonisation should be our common goal. Perhaps even a G7 or G20 mandated body could be an option to establish such standards and risk management; we could call it a “Digital BCBS”.
5 Closing remarks Ladies and gentlemen, Let me recap the “journey” of my short presentation: First, international standard-setting by the BCBS works and is quite successful, but it is a marathon, not a sprint. Second, international regulation brings a lot of benefits for supervised entities, supervisors and the financial system as a whole. But it also has its downsides.