None of the federal regulators had sufficient authority to focus on the systemic risk that large banking organizations posed. 2  BIS Review 31/2010  comprehensive reform legislation, we have been conducting an intensive self-examination of our regulatory and supervisory performance and have been actively implementing improvements.
On the regulatory side, we have played a key role in international efforts to ensure that systemically critical financial institutions hold more and higher-quality capital, have enough liquidity to survive highly stressed conditions, and meet demanding standards for companywide risk management.