International Regulatory Co-operation: Case Studies, Vol. 2

Canada-US Co-operation, EU Energy Regulation, Risk Assessment and Banking Supervision

image of International Regulatory Co-operation: Case Studies, Vol. 2

The world is becoming increasingly global. This raises important challenges for regulatory processes which still largely emanate from domestic jurisdictions. In order to eliminate unnecessary regulatory divergences and to address the global challenges pertaining to systemic risks, the environment, and human health and safety, governments increasingly seek to better articulate regulations across borders and to ensure greater enforcement of rules. But, surprisingly, the gains that can be achieved through greater co-ordination of rules and their application across jurisdictions remain largely under-analysed.


This volume complements the stocktaking report on International Regulatory Co-operation: Rules for a Global World by providing evidence on regulatory co-operation in the framework of the Canada-U.S. Regulatory Cooperation Council, as part of EU energy regulation, under the Global Risk Assessment Dialogue, and in the area of prudential regulation of banks. The four case studies provided in this volume follow the same outline to allow for comparison.



Prudential regulation of banks

There is extensive international regulatory co-operation in financial services regulation, co-ordinated through several global regulatory committees. However, the financial crisis has revealed some of the shortcomings in the international co-ordination of financial regulation and their consequences for global financial stability. This case study focuses on international co-operation with respect to the prudential regulation and supervision of banks at the global level. In particular, it describes how global standards for the prudential regulation of banks are set and implemented.


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