The need for effective international collaboration in times of financial stress

Speech by Mr Jaime Caruana, General Manager of the BIS, at the seminar on "Long-term growth: organizing the stability and attractiveness of European financial markets", Berlin, 20 January 2012.
Collaboration between financial authorities has never been so testing - and yet never has collaboration been so important. We face key coordination challenges in the area of financial regulation, particularly with respect to the consistency of the calculations of risk-weighted assets, the treatment of sovereign exposures, and liquidity standards.