1945

Towards a multilateral framework for international trade in banking services

As a result of the numerous interactions between financial and non-financial activities in most types of economy, pivotal importance is generally attributed to the sector which provides banking services. Not only are a great many transactions between economic agents linked to the use of one or more of such services, but the very pervasiveness of this connection also means that the banking sector can be a powerful instrument for controlling or influencing the character and scale of production. This potential and the large number of different banking services make the establishment of norms and regulations in this field a particularly complex matter. This statement applies alike to national regulatory regimes and to agreements about norms at an international level.

Related Subject(s): International Trade and Finance
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