I ASKED THE QUESTION ORIGINALLY AND FEEL STRONGLY THAT BANKS BY THEIR VERY NATURE OF BEING TRUSTEES FOR THE PUBLIC’S FUNDS SHOULD COME UNDER INTERNATIONAL CONTROL. E.G. International regulatory framework for banks (Basel III) is a comprehensive set of reform measures, developed by the Basel Committee on Banking Supervision, to strengthen the regulation, supervision and risk management of the banking sector.
ADDITIONALLY, The Bank for International Settlements and the Basel Committee on Banking Supervision jointly created the Financial Stability Institute (FSI) in 1999 to assist financial sector supervisors around the world in improving and strengthening their financial systems.
MY QUESTION IS WHETHER THERE IS A SET OF INTERNATIONAL RULES COVERING RECORDS MANAGEMENT TO PREVENT A BANK FROM DESTROYING RECORDS OF THEIR LIABILITY TO THEIR CUSTOMERS, THEREBY CREATING CHAOS AS NO ONE COULD RECONSTRUCT AND DETERMINE THE EXACT AMOUNT OWED TO THESE CUSTOMERS.