Trichet: new rules need international consent
New regulatory rules need to be agreed by regulators at the international level, said Jean Claude Trichet, the president of the European Central Bank.
Speaking at a conference in Nice, he said that the recent market correction has underscored the urgency and importance of enhancing cross-border convergence and cooperation in the supervision of cross-border banks in the EU and a major step in that direction is the European MoU on cross-border financial stability.
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