Macroprudential perspective Fourth, I would like to highlight the importance of a macroprudential perspective. Maintaining the soundness of individual financial institutions is important but not sufficient to secure the stability of the financial system. For example, the global financial crisis underlined the need to enhance the cross-sectional assessment of risk concentration in the financial system.
Financial stability and the regulatory policy triangle So what would this mean in practice, and how does it relate to the international regulatory agenda? My key point here is that in an environment in which monetary policy is likely to remain accommodative for some time, it is important that the agenda for regulatory reforms is pushed ahead, along several dimensions.