•  Ultimately, this includes a review of the rules that allowed the crisis to emerge; o  eg legal constructions such as non-recourse mortgage loans, which are used in some countries and were instrumental in promoting borrowers’ willingness to take out subprime loans;  o  other rules that need to be reviewed are capital requirements for liquidity facilities or the favourable capital requirements for securitisation tranches; major progress has already been made in this field with regard to greater transparency and risk-oriented capital charges.
In the medium term, it is necessary to reassess whether the current structure of WBG based on four organizations, IBRD, IDA, IFC, MIGA, is still the best suited to serve the clients of the 21st century, or whether it is a legacy of the past that needs to be reorganized in a more efficient fashion.