The nature and implications of financial innovation - Report of a conference

Quarterly Bulletin 1983 Q3
Published on 01 September 1983

On 18-20 May, the Bank held a conference of senior officials from central banks and supervisory authorities in eleven countries to discuss the implications of changes which are taking place in different monetary systems.

The conference grew out of the programme of work of a group within the Bank which has been studying a variety of developments within the UK monetary system and their central banking implications. The paper on page 363 was presented at the conference and reflects some of the work of the group. In the course of the group's work, it became clear that many of the factors which were bringing about change in UK monetary institutions were also at work in other countries. The conference was thus arranged to consider the nature of developments in monetary systems in different countries, and to identify issues of common interest and concern.

This note considers factors for change within monetary systems, and implications of such changes for the regulation of those systems, which were discussed at the conference. Particular reference is made to banking supervision and monetary control.

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