As a consequence, resolution can be inhibited by the complex structure of large banks, many of which consist of thousands of legal entities all over the world that are interconnected through a variety of financial arrangements. To be able to quickly restructure a bank in times of crisis, these interdependencies must be made transparent and reduced.
Consequences for the financial system The current reforms will undoubtedly increase the resilience of financial institutions and enhance the stability of the system as a whole. However, there will also be broader consequences for the financial system. Some of those consequences are intended, others  2  BIS central bankers’ speeches  are unintended.