Only if we succeed to organise a mechanism through which SIFIs are allowed to fail, while limiting to the maximum extent the systemic risk involved, can we ensure that SIFIs behave in a correct manner and thus reduce the probability of future crises.
The issue therefore merges into the broader question of establishing principles and tools for an effective crisis management system, a theme that involves many aspects that will be addressed in the rest of this conference. Let me briefly touch upon some of them. 2  BIS Review 127/2010  3.