The special feature briefly reviews these measures and provides an overview of the efforts to enhance convergence and cooperation in the supervision of cross-border banks.
In the wake of the 2007 financial crisis, effective regulation and supervision of financial institutions was brought back to the table with an elevated sense of seriousness. Basel III gained greater importance worldwide. This awakening has brought with it several new challenges for regulatory authorities, not only in sub-Saharan African countries but also the world over.