BIS Review 12/2006  3  It is worth recalling that rising US trade deficits were regarded as a concern as far back as the mid 1980s. 2 It was a common view then that deficits much smaller than today's were unsustainable. There has been a trend going on here for 20 years at least.
Nevertheless, banks that are too big to fail pose a problem that is global in scope and has to be resolved not only at the national but also at the global level. The Financial Stability Board is currently finalising criteria that global systemically important banks will have to fulfil in future regarding their capital structure.