Since the crisis, frameworks have been or are currently being developed to deploy some countercyclical tools during periods when risks escalate, including the analysis of salient risks in annual stress tests for banks, the Basel III countercyclical capital buffer, and the Financial Stability Board (FSB) proposal for minimum margins on securities financing transactions.
We are also actively engaging in international cooperation and helping with the green transition in the developing world. Second, Fintech. Fintech has made financial services more accessible, efficient and inclusive. At the same time, we should not neglect its side effects such as abuse of monopoly power, and excessive collection and exploitation of clients’ data.