"The continuing rapid evolution of the financial system continues to challenge both management and regulators. Management strives to find cost-effective organizational structures that offer enough flexibility to respond quickly to environmental change. Regulators strive to find effective responses to the competitive and prudential challenges presented by the rapidly changing dynamics of financial system operations. The papers presented in this volume address important aspects of both issues: the continuing evolution of the world's financial institutions and the regulatory challenges presented by the changes."--Jacket.