Abstract
In recent several years the banking sector has undergone important and far-reaching changes. To some extent these changes reflect globalization, financial innovation and technological development.
Political agents and regulators seek to respond to these changes, but they are unable to keep pace with them, as proved by the numerous banking crises. In response to such crises the existing rules and practices tend to be complemented or entirely rebuilt.
The current global financial crisis that highlighted a range of deficiencies is no exception. The aims of this article is to tackle the deficiencies within the system of banking regulation and supervision (notably in the United States and Great Britain) and to assess the submitted and even the already adopted proposals.