A fair summary is that, while the shadow banking sector is smaller today than before the crisis and some of its least stable components have either disappeared or been reformed, regulators and the private sector need to address remaining vulnerabilities.
Finally, we shall build our buffers to ensure that the economy is prepared and resilient should another crisis strike. The timing of the exit remains very much uncertain at this juncture. Therefore, we leave some room for flexibility in policymaking to account for uncertainty and risk, especially as the situation remains very fluid.