Cross-Sector Supervision: Which Model?

THE ORGANIZATIONAL STRUCTURE of financial supervision is, or has been, under revision in many countries—including the United Kingdom, Germany, the Netherlands, the United States, and Australia—in response to market developments. Several papers have been written about the different models adopted, either promoting a single model in isolation or comparing different models and concluding that there is no uniform best model, but that each should be seen within the context of its own financial system. 1