New Consultative Paper on Supervision of Cross-Border Electronic Banking Activities
The Basel Committee on Banking Supervision has issued a consultation paper entitled ‘Management and Supervision of Cross-Border Electronic Banking Activities’. The purpose of this paper is to further the Basel Committee’s dialogue with the banking industry and supervisory community on the risk management and supervision of cross-border e-banking. The paper has two main objectives. The first is to identify banks’ risk management responsibilities with respect to cross-border e-banking. The second objective is to focus attention on the need for effective home country supervision of cross-border e-banking activities, as well as continued international cooperation between banking supervisors regarding such activities.