Public authorities play a role in three fields: removing obstacles to consolidation, setting standards, and ensuring an integrated regulatory and oversight framework. BIS Review 81/2001  7
Specifically, The law restored the central bank’s authority to issue its own debt papers as part of its regular monetary operations, establishes a stronger prudential regulatory framework to promote a safe and sound financial system through the expansion of supervisory coverage and authority to prescribe metrics attuned to international standards and practices.