Developments at the international level At the international level, the Financial Stability Forum (FSF) has put forward a number of short-term actions to rebuild confidence in the creditworthiness and robustness of financial institutions, in order to facilitate the smooth operation of the market in terms of liquidity flow and provision of credit.
In this context, supervisors and central banks are viewed as having a role in ensuring the existence of adequate capital and liquidity buffers of supervised institutions. However, there is a clear consensus that competent authorities cannot substitute the private sector for the more fundamental need of the market to recover confidence in the ability of the financial system to manage current risks.