The focus of these proposals was broadly on indentifying indicators of financial vulnerability, development of sound international codes, standards and best practices, introduction of preemptive measures and safety nets, and designing a framework for crisis management.
Thus, while development of international standards and codes is only one element of the overall effort in the  BIS Review 62/2001  1  aftermath of the Asian crisis to reform the international financial architecture, significant progress is noticeable in this element only.