Furthermore, the recent rapid growth of derivatives and securitization has been made possible through downsizing and the spread of computers. Changes in the financial system stemming from the recent advance of information and communications technology are not limited to improving the efficiency of traditional businesses and enabling the development of new instruments in specific fields.
As the crisis revealed some shortcomings of the Basel II framework, the G20 commissioned the Financial Stability Board to work towards a reform of the current rules. A first set of relevant measures was published in the summer of 2009 as a direct reaction to the subprime crisis.