As devastating as the crisis has been, it has set in motion a process of reform that will eventually lead to a more stable and resilient financial system in the future. Originally, I wanted to give you a short overview of the state of these reforms.
And even though I will stick to that plan, current events have to be acknowledged and I will do this at the end of my speech. 2. Major issues of reform at the micro and macroprudential level  The reform of financial regulation was initiated by the G20 during various meetings in London, Washington and Pittsburgh.