01898cas a2200253 a 4500 AALejournalIMF004002 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451863178 1018-5941 BD-DhAAL BD-DhAAL Cihak, Martin. Is One Watchdog Better Than Three? : International Experience with Integrated Financial Sector Supervision / Martin Cihak, Richard Podpiera. Washington, D.C. : International Monetary Fund, 2006. 1 online resource (32 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Over the past two decades, there has been a clear trend toward integrating the regulation and supervision of banks, nonbank financial institutions, and securities markets. This paper reviews the international experience with integrated supervision. We survey the theoretical arguments for and against the integrated supervisory model, and use data on compliance with international standards to assess the validity of some of these arguments. We find that (i) full integration is associated with higher quality of supervision in insurance and securities and greater consistency of supervision across sectors, after controlling for the level of development; and (ii) fully integrated supervision is not associated with a significant reduction in supervisory staff. Mode of access: Internet Podpiera, Richard. IMF Working Papers; Working Paper ; No. 2006/057 Full text available on IMF http://elibrary.imf.org/view/journals/001/2006/057/001.2006.issue-057-en.xml IMF e-Library