High-level principles for the cross-border implementation of the New Accord

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The Basel Committee recognises that the New Accord will require more cooperation and coordination between home country and host country supervisors, especially for complex banking groups. Closer cooperation between supervisors can assist the implementation efforts of both supervisors and banking groups. Hence, the document sets out 6 principles that should apply in fostering closer practical cooperation between supervisors so as to implement the New Accord as effectively and efficiently as possible.