Initially, the priority must be to manage the crisis and mitigate its immediate impact. I am reminded of the popular Portuguese saying: ‘In times of war there is no time to clean weapons’. And that is how it was during the crisis. When we are facing problems we need to act, despite the presence of some risks.
Yet I would also argue that home regulators should recognize host jurisdictions may take action to restrict the flow of resources, or worse yet, demand resources in the moment of crisis, even if the stress does not originally emanate from their location. Such actions tend to both limit the flexibility of the home regulator and undermine cooperation in times of stress.