References
See London Business School (1995). The Competitive Position of London's Financial Services Final Report’, Corporation of London, London.
See Smith, A. D. (1992). International Financial Markets the Performance of Britain and Its Rivals’, Cambridge University Press, Cambridge.
Georg von Siemens, who presided over the international expansion of Deutsche Bank in the second half of the 19th century, included in a letter to his wife the following reflection: ‘I think that with every year I am drawing nearer to my object of making German import and export independent of England; the attainment of that object will be a national achievement, as important as the conquest of a Province’. See Emden, P. H. (1983). Money Powers of Europe in the Nineteenth and Twentieth Centuries’, Garland Publishing, New York and London, p. 227.
Chapter 1 describes briefly the 1974 insolvency of the German bank, Herstatt, I.D. which was one of the events leading to the establishment of the Basel Committee on Banking Supervision and the Committee on Payment and Settlement Systems. But the book's treatment of subsequent initiatives to develop an international framework of prudential rules is somewhat cursory.
This task was entrusted to an inter-agency task force of the United Nations, the European Commission, IMF, OECD, UNCTAD and the WTO as the sequel to the publication of its (2002) Manual on Statistics of International Trade in Services, Geneva, Luxembourg, New York, Paris, and Washington, DC, which contains a full account of the conceptual basis of the GATS, the treatment of services in different major systems of international statistics and recommendations for more coherent and comprehensive statistical systems corresponding more closely to GATS concepts.
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Cornford, A. Trade, Investment and Competition in International Banking. J Bank Regul 8, 195–197 (2007). https://doi.org/10.1057/palgrave.jbr.2350042
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DOI: https://doi.org/10.1057/palgrave.jbr.2350042