Many of the reform efforts that regulators and the Congress have undertaken – reforms that are clearly needed – are aimed at improving regulators’ ability to identify and address troubled institutions earlier, and to limit the impact of failures when they do happen.
However, it is noteworthy that dissolution of the Soviet Union also meant that the three Baltic States were able to regain their independence – a process that had begun in the 1980s. The new unit would analyse the Baltic economies up to their membership in the European Union in 2004.