As is frequently pointed out, unless banking regulations are identical across frontiers, there will be plenty of scope for regulatory arbitrage.

Borrowers and lenders can resort to cross border financial flows to evade domestic controls and erode the integrity of regulatory standards at home.

If they over constrain the financial sector, risk may migrate outside the regulatory frontier, where it will be harder to measure and monitor.

The tighter their controls on risk in banks, the more frontier police the regulators will need.

They also place enormous emphasis on the idea of organizational boundaries and on structuring relations with civic society according to the terms and conditions specified by the bureaucracy.

Now regulators are discouraging such cross border business, leading to a process with the ugly new name of de euroization.

AGENDAS OF THE ORGANIZATIONAL AND RESUMED ORGANIZATIONAL SESSIONS,

Organizational arrangements

Provisional agenda and annotations

Election of officers

Decisions adopted by the Executive Board in 2005

Organizational effectiveness

The Committee considered the item.

1 P 5, 6 P 4,

A. Convening of the Expert Meeting

(b) Social development

Organizational Unit

I. ORGANIZATIONAL ARRANGEMENTS . 5 11 2

A. Organizational constraints . 78 20

Management Services

A much better way forward is to rethink seriously the role of cross border capital account regulations.

In the 1990 s, the Fund went so far as to try to change its Articles of Agreement to mandate deregulation of cross border finance.

We intend to cross the border. The border?

And the regulatory boundary problem persists risky activities may migrate to areas where regulation is lax and reproduce the problems with the shadow banking system that we have witnessed during the crisis.

2. Organizational matters.

Organizing Committee

Organizational issues

Previous regulations

Organizational matters

Regulatory issues

(a) Organizational effectiveness

C. Organizational effectiveness

Organizational matters Overview of the sessional period

He will also serve as President of COP MOP 1.

Organizational and procedural decisions

Reports of the subsidiary bodies and decisions and conclusions arising therefrom

(d) Narcotic drugs

Following the proposal of the President, the COP adopted the agenda as follows

Item 2 (c) of the provisional agenda

Organizational arrangements

Model Regulations

Organization and management culture

Organizational matters

Item 2 (a) of the provisional agenda

Item 2 (b) of the provisional agenda