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Trade and Development Report 1989

image of Trade and Development Report 1989

Global output and trade expanded very rapidly last year and are continuing to grow, though at a somewhat reduced pace. The international economy is apparently in good health. However, this appearance is misleading. The growth impulses that are present are quite fragile, and will need to be actively protected.

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The basle agreement of July 1988 on international convergence of capital measurement and capital standards

In July 1988 the central bank governors of the Group of Ten countries and Luxembourg endorsed a document entitled “International Convergence of Capital Measurement and Capital Standards”, which represents the culmination of efforts during recent years by the Committee on Banking Regulations and Supervisory Practices to secure international convergence of supervisory regulations governing the capital adequacy of international banks. This agreement (hereafter referred to as the Basle Agreement of July 1988) is a further stage in the development of a framework of international supervisory cooperation concerning banking activities. Previous important steps in the process included the Basle concordats of 1975 and 1983, which established principles covering the distribution between parent and host authorities of supervisory responsibilities over branches, subsidiaries and joint ventures in international banking, and the exchange of information between such authorities.

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