In many cases the efforts to address them have only just got under way, while there is still much uncertainty about the effects of the measures. I will focus on two main challenges, first strengthening the banking sector and second enhancing macro-prudential oversight. Strengthening the resilience of banks 11. Banks were at the epicentre of the crisis.
(E)  Regulatory governance to self governance  44. The primary role of the regulator is to issue broad guidelines to ensure standardized practices across the banks at the national level. In line with these broad guidelines, it is the responsibility of the bank management to develop their own internal processes, structures and governance framework based on their business model and overall business strategy.