That means an end to the formerly common practice of some institutions to shop around for the lowest level of regulation on the globe and hence minimize their degree of supervision. Next, I think we must increase the number of institutions subjected to  6  Olivier Blanchard, Antonio Spilimbergo, Steve Symansky, and Carlo Cottarelli (2008).
“Fiscal Policy for the Crisis,” IMF Staff Position Note, December 29, 2008. BIS Review79/2009  11  regulations which are at the moment reserved for commercial banks.