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Unlike national banking systems what does the international banking system lack?
Wiki User
∙ 8y ago
Although there are a number of banking institutions that aid international banking, their functions often overlap. The international banking "system" does not have one entity that functions as a regulatory type central bank. For example, in the US the Federal Reserve System and its lead bank, the Federal Reserve Bank of New York has a number of high level functions that govern the US banking system and at times interfaces or influence other world central banks. With that being said, no single world banking organization can function in the world as a central bank functions within a single nation.
Wiki User
∙ 8y ago
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