The changes initiated since the G20 meeting in Washington in November 2008, have the key objective of making financial systems more stable and therefore more resistant to shocks. Furthermore, the aim is that the taxpayer no longer has to step in to correct difficulties in the financial system.
And it was also imperative to ensure that the financial system has a clear value added for the economy as a whole. There is good empirical evidence that growth in the financial sector also strengthens a country’s overall economic growth.