The phrase captured the imagination of the world and began to be used in varied contexts to broadly underscore regime shifts and hard transformation, embodying the characteristics of De-leveraging, De-globalization and Reregulation, the so-called DDR dynamics. 4. I would like to focus on the aspect of Re-Regulation.
I.  Re-regulation: the New Normal  The banking regulation before the crisis, especially in advanced economies, was basically minimalist in nature; segmented in scope, done in silos displaying undue faith in the market discipline, devoid of any big-picture awareness on the part of the supervisors.