- Regulated activities — Bank of England — European Central Bank — International Monetary Fund (IMF) — World Bank
This chapter focuses on some of the international agreements and supranational bodies in the banking and financial services sector that perform a variety of functions, from collating collective research and compiling statistics, to providing a framework for standard setting and mediating disputes between national interests. It first considers the World Trade Organisation (WTO) and WTO agreements, dispute resolution under WTO proceedings, and financial services under the WTO before turning to other supranational bodies such as the Transatlantic Trade and Investment Partnership, the World Bank and the International Monetary Fund, the Basel Committee, Financial Action Task Force, and International Accounting Standards Board. The chapter also examines the Sarbanes-Oxley Act of 2002 and its impact on non-US entities and how the credit crunch affected the role of supranational bodies in creating financial stability in the global market. Finally, it analyses the future of supranational bodies in a global economy.