The quid pro quo for this support is that banks will be subject to more comprehensive regulation and, at least as important, more intensive supervision and scrutiny by their  BIS central bankers’ speeches  7  prudential supervisors than was the case before the crisis. The light touch is no longer acceptable.
One can make a reasonable case that in Australia’s case, this doesn’t require much change. APRA has long exercised intensive scrutiny over the banks it supervises. But even here in Australia, there are a number of lessons learned through the crisis that are in the process of being applied. The regulatory regime for financial institutions has tightened considerably.