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The analysis and policy prescriptions aim at three areas: 1) the appropriate design of regulatory and supervisory institutions; 2) the role of foreign banks; and 3) how international financial practices affect Latin America.
Choosing to rely on the Bank of England to supervise its banks - and other financial institutions - may prove to be an empty choice if it proves necessary to establish its own supervisory institutions in accordance with what is understood to be EU statutes".
During the negotiations, two supervisory institutions were put forward to counterbalance the power of the High Authority.
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But the New York Fed, unlike the other regional Federal Reserve banks, was more than simply a supervisory institution.
This prevents the breakdown in communication between various regulatory, supervisory and policymaking institutions that has been observed in some advanced economies.
Significantly, neither the Board nor any of its individual members have any involvement in the Fed's supervisory responsibilities over financial institutions, nor does the Board have any authority over supervised institutions such as JPMorgan.
"As you know, we cannot comment at all on supervisory matters involving individual institutions," she said on Friday.
After it absorbed the troubled institutions, its supervisory capital reached $182 million, more than half its regulatory capital of $322 million.
European leaders were expected to push ahead with plans for winding up or shoring up weak eurozone banks on Thursday night, hours after sealing agreement to put the European Central Bank in supervisory authority over financial institutions in the single currency area.
In a recent letter to the Financial Stability Board, an international organization charged with developing strong regulatory and supervisory policies for financial institutions, the Investment Company Institute said: "We do not believe banklike regulation is appropriate, necessary or workable for funds registered under the Investment Company Act of 1940".
To minimize these challenges, facilitators are encouraged to make at least one supervisory visit to the institutions during the course of the training, and trainees are encouraged to keep in touch with their academic mentors through email and telephone contacts.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com