The practice of conducting regulatory colleges for systemically important institutions would assist regulators in dealing with the global issues in a coordinated manner. I would like to point out that regulation and monitoring of SIFIs is just one of the aspects in overall macro-prudential regulations.
In order to implement a complete reform agenda, SIFIs framework needs to be dovetailed with other initiatives of financial stability. These may include an elaborate crisis management framework, work on countercyclical measures, framework for effective resolution of problem institutions, legal cover for enforcement etc.