Coordinated guidelines were put forward at the European and international level by the Financial Stability Forum, the Eurogroup and the European Council, in particular, and were reflected in the declaration of the G20 summit. This bears witness to the importance of measures to be applied consistently in all countries.
Between the 1930s and 1980s, heavy regulation was a characteristic of financial systems. In such an environment, the issue of financial instability was less pressing, so that the financial stability objective did not attract significant attention from central banks.