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This book charts the consequences for banking supervision of two stylized developments that over the last decade have characterized the global financial landscape: the integration of cross-sector and cross-border financial services. Both developments inevitably call for a supervisory response and the authors discuss what form and direction this should take. They also address a number of other important subjects including the new Capital Accord (Basel 2), the convergence of supervisory practices, procyclicality, financial conglomerates, deposit insurance and a brief history of the interplay between banking supervision and bank behaviour. The important practical and theoretical issues highlighted in this volume clearly demonstrate that banking supervision currently stands at a crossroads. The detailed, objective discussions of these themes and the sensible conclusions drawn will undoubtedly help policymakers to decide which path to take. The original contributions from high-level practitioners and academics from around the world will also be of great interest to commercial bankers, and academics and researchers of banking, finance and monetary economics.