In fact, at the beginning of the COVID event, we observed a far more resilient banking sector than that which entered the 2008 crisis. Yet, if the benefits of TBTF reforms are to be fully realized, there remains further work to do. The FSB outlines this work in its forthcoming evaluation.
Further analysis of such reforms, international financial standards, agreed G20 and FSB commitments, recommendations, and other initiatives will provide us with better insights into whether the reforms are working as intended or conflict with one another, are structured efficiently, and if they are in need of refinement.