1 As described by Arthur Burns, F., former Chairman of the U.S. Federal Reserve Board. Seep. 181 Google Scholar.

2 Furthermore, Dale states: “[T]he explosive growth of multinational banking is tending to out-distance the individual capabilities of national regulatory authorities” (p. 175).

3 The country studies cover Belgium, Canada, France, Hong Kong, Italy, Japan, Luxembourg, the Netherlands, Singapore, Switzerland, the United Kingdom, the United States and West Germany.

4 “[P]reventive regulation [is] designed to curb risk-taking by banks and thereby reduce the likelihood of liquidity and solvency problems; and protective regulation [is] designed to provide support to both banks and their depositors should problems in fact arise” (p. 55).

5 Eurocurrency markets are “markets in currencies deposited outside their country of issue” (p. 2).

6 “[I]t is paradoxical that investors should be prepared to lend indirectly via the international banking system to countries they would not consider lending to directly” (p. 11).

7 In addition to the countries listed in note 3 supra, Dale briefly describes the degrees of regulation in Australia, the Philippines, Taiwan, Bahrain and the Caribbean offshore centers of Panama, the Bahamas and the Caymans.

8 “There is an information gap that needs to be closed through the provision of more comprehensive and timely data on country indebtedness than currently exist” (p. 86).

9 Reprinted in appendix 1, at 188–94.