Micro- and macroprudential regulation  But it is not only the macroeconomic toolbox that needs an overhaul. The crisis has laid bare structural shortcomings of the financial system. These structural flaws demand a structural – that is, a regulatory – answer. Market failures and regulatory blind spots have tilted the playing field, hampered competition, and over-stimulated the risk appetite of investors.
As you all know, much effort has already been taken to address the fault lines revealed by the global financial crisis and to move towards a more resilient global financial system.