Leading regulators have sought to dispel industry concerns that global prudential regulation is in danger of fragmenting along national lines, making it harder to manage cross-border balance sheets.
“I am surprised when I hear about fragmentation… I’ve been involved for 20 years, so I know where we came from, and I think the level of supervisory co-operation is far better than it used to be,” said William Coen, secretary-general of the Basel Committee on Banking Supervision.
Coen, who was
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