Escrows for taxes and insurance Another part of our proposal for higher-priced loans--a requirement to escrow taxes and insurance--would also help ensure that borrowers can afford their payments. Escrowing has become standard practice in the prime market, and the case for making it standard in the subprime market, too, appears compelling.
The EU has long been involved in strengthening cross-border cooperation among the member states in the area of supervision. The first two Brouwer reports, published in 2000 and 2001, examined supervisory procedures in some detail. In the second report, emphasis was placed on the need to coordinate supervision across sectors (banking, insurance, securities) in the face of the creation of large financial conglomerates.