The two aims of this 1988 Accord were the same as those for international financial supervision ever since and up to the present day: first, to strengthen the stability of the international banking system, and, second, to eliminate or mitigate distortions in international competition among banks due to differences in national regulation.
There were more than 1,000 banks on the problem list of the Federal Deposit Insurance Corporation, which is the US banking agency that insures bank deposits and serves as receiver for failed banks. This period includes the costly crisis of the US savings and loan industry -- which is composed of institutions chartered to make home loans available to the American public.