Although they aren’t a direct component of the shadow banking system, they can also be a source of systemic risk. All of this makes it appropriate to extend the reach of regulation. 4. Conclusion  In conclusion, I would like to reiterate the three main points of my speech.
•  First, we need to redraw the boundaries between the state and the market by tackling and solving the problem of systemically important banks. •  Second, the state needs to amend bank regulation – not least by requiring banks to hold capital against government bonds.