However, the implementation of reforms is not yet complete and remains uneven, especially in the non-banking space. It goes without saying that while dealing with all these issues, country specific situations have to be factored in. 5. Recent developments in the global economy should be seen in this perspective.
Cross-border lending by advanced economy banks to borrowers in emerging market and developing economies (EMDEs) has grown since the crisis, and intraregional lending has also increased within EMDEs, in particular in Latin America and Asia.