[Economic Term] Supervisor Council

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Today's economic term is supervisors' council.

In order to effectively regulate and supervise multinational financial institutions, there is an information sharing system consisting of the supervisory authorities of the home country where the multinational financial institution's head office is located and the supervisory authorities of the host country where the institution's branches or subsidiaries are located. This refers to the Supervisory Cooperation Council. It was established to overcome the limitation that while financial institutions' business activities are carried out globally, regulation and supervision are centered on the nationality or regional basis of financial institutions.

For example, there is the International Association of Insurance Supervisors (IAIS).

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