These regulations have been discussed and formulated by authorities worldwide and have helped increase the robustness of the global financial system. However, looking back on history, financial crises have repeatedly occurred in different forms, often with the advent of new financial technologies.
As we are not crystal gazers and cannot foresee the future completely, we need to identify risks to the financial system in as forwardlooking a manner as possible. Based on a deep understanding of our past experience, we must monitor the progress of new financial innovation and changes in the environment surrounding financial institutions.