The Basle Concordat and the supervision of international banking

Abstract

Technology has radically changed the manner in which banking is conducted. Global computer linkages and instant communications systems have accelerated the trend of financial globalisation, and stimulated the expansion of cross-border operations. The key challenge today for supervisory authorities of international banks is ensuring that all banking activities are effectively supervised. To achieve this purpose, the Basie Concordat agreement was endorsed, which consisted of guidelines covering the responsibilities of different supervisory authorities where banks operate in more than one national jurisdiction.