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8 Ga. St. U. L. Rev. 487 (1992)
Supervision of International Banking Post-BCCI

handle is hein.journals/gslr8 and id is 495 raw text is: GEORGIA STATE UNIVERSITY LAW REVIEW VOLUME 8 NUMBER 3 JUNE 1992 SUPERVISION OF INTERNATIONAL BANKING POST-BCCI Hal S. Scottt INTRODUCTION Let me begin by expressing my gratitude to Georgia State University and to the College of Law, and particularly Acting Dean Blasi, for inviting me to be the tenth Henry J. Miller Distinguished Lecturer. I would also like to thank the Loridans Foundation for sponsoring this lecture series. It is an honor and pleasure to be with you today. The topic of my lecture is the supervision of international banking post-BCCI. My address builds on a recent study I coauthored with Sydney Key, a Federal Reserve Board economist, entitled International Trade in Banking Services: A Conceptual Framework, published last summer by the Group of Thirty.' The focus of my remarks will be on the problems of host countries in supervising foreign banks, with particular emphasis on the United States as a host country. I will not examine the equally important question of how host countries can and should deal with competition from foreign banks. There are three key policy objectives of host countries which affect their supervision of foreign banks: (1) maintaining safety and soundness, (2) avoiding systemic risk, and (3) protecting depositors. I will examine how each of these policies applies t Nomura Professor of International Financial Systems, Harvard Law School. This lecture was given on November 6, 1991. It has been substantially revised for publication. 1. SYDNEY J. KEY & HAL S. SCOT, INTERNATIONAL TRADE IN BANKING SERVICES: A CONCEPIFrJAL FRAMEWORK (Group of Thirty Occasional Papers No. 35, 1991). -487

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