10  of bolstering the credibility of the SRF and its effective ability to intervene and, in doing so, reduces the risk of a disorderly management of a crisis at a large bank, which could impact overall financial stability. The reform envisages the introduction of the backstop no later than the end of 2023.
Financial globalisation is not a zero-sum game; it brings major benefits for world economic development but it can also generate instability and substantial losses for smaller and weaker economies.