In its first manifestation (June 2000-2001), the project’s emphasis was divided
into two parts namely market and supervisory reform. This dichotomy required analysts
to research leading financial markets and comparable peer, in order to distinguish
international financial trends and identify potential roles of deposit-taking financial
institutions, scope of business for each type of financial institution, possible structure for
conglomerates and universal banks, and the matching supervisory regime and interagency
coordination.