A single framework of supervisory rules and techniques has been agreed internationally with the aim of promoting financial stability, improving the working of markets and reducing systemic risk through the exchange of information and international cooperation among supervisory authorities.
This framework is based on the work of organizations such as the Financial Stability Board, the Basel Committee on Banking Supervision, the European Systemic Risk Board, the European Banking Authority, the European Securities and Markets Authority, the European Insurance and Occupational Pensions Authority and the International Organization of Securities Commissions.