Implications of Financial Convergence for Regulatory and Supervisory Regimes for Financial Services. OECD/INPRS/World Bank Contractual Savings Conference Washington, DC April 29- May 3, 2002 Stephen A. Lumpkin OECD. Financial Convergence. Definition of terms:
OECD/INPRS/World Bank Contractual Savings Conference
Washington, DC April 29- May 3, 2002
Stephen A. Lumpkin
Definition of terms:
Types of convergence interfaces:
An institution’s formal structure must comply with legal and regulatory requirements, but might not be fully reflective of a group’s operational structure or risk appetite or risk management
Integrated regulation is generally accompanied by consolidated supervision, but sectoral regulation might or might not be accompanied by consolidated supervision.
What are the implications, if any, of financial convergence for the structure of financial supervisory agencies?
Convergence intensifies the need for information sharing, co-ordination and consistency across specialist regulatory bodies. How can this increased information flow best be achieved?
Should the institutional structure of financial supervision reflect the structure of the financial services industry it covers?
Disaggregated Structure of Financial Supervision by Sector services groups