1、 https:/crsreports.congress.gov Updated October 17, 2017Introduction to Financial Services: International SupervisionOverview Over the past several decades, global capital flows have grown rapidly, driven by deregulation of national financial sectors, advances in technology, and innovation of financ
2、ial products and instruments. The financial crisis of 2007-2008 and subsequent global economic turmoil underscored the interconnectedness of the global financial system as well as its weaknesses. While financial markets have become more global, financial regulation remains domestic, exercised by nat
3、ional governments over financial transactions occurring within their geographic borders. In the wake of the crisis, leaders from the United States and other countries have pursued a wide range of reforms to the international financial regulatory system. Background At a basic level, the goal of inter
4、national financial regulation is to maximize economic gains from integrating global financial markets while minimizing losses from instability and financial crises. International financial stability is a policy objective that transcends national boundaries. In the absence of an international financi
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