Basel

Essential elements of a statement of co-operation between banking supervisors.

Background

In the course of recent discussion, under the guise of the Financial Stability Institute at the Bank of International Settlements, a number of countries have suggested that there is a need for a statement setting out the vital elements of a Memorandum of Understanding (MOU) or similar document that can be used as a reference for establishing bilateral relationships between banking supervisory authorities in different countries (and, where appropriate, between banking supervisors and other financial regulators).