51. Chile, Argentina, and the United States display foreign-owned assets of at least 20 percent or more of the total; Japan, Indonesia, Taiwan, and South Korea display levels of less than the Thai economy of 6 percent. 52. For instance, the Chilean central bank publishes findings on how well banks grade loans. Sanctions are applied if reserves are insufficient. The Argentinian central bank monitors banks’ auditors. Banks must subject themselves to market discipline by issuing bonds equal to deposits; strict international capitaladequacy standards are applied. 53. BIS, “Supervisory Lessons to Be Drawn from the Asian Crisis” (BasleCommittee on Banking Supervision Working Papers, no. 2, Basel, Switzerland, June 1999).
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