Basel Committee chairman says changes on European supervision needed

A major step forward in the convergence of supervision in Europe can be achieved through the Lead Supervisor model, where the home supervisor is made responsible for supervision of an entire financial firm, including its foreign subsidiaries, while recognising the need for an important role for the host supervisor. That's the view that Nout Wellink, president of the Netherlands Bank and chairman of the Basel Committee on Banking Supervision, outlined at the annual general meeting of the Foreign

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