The main areas of this critical work include:   strengthening the global capital framework (by building stronger buffers into the financial system, covering capital, liquidity and provisioning);    making global liquidity more robust (by introducing new minimum liquidity standards and a structural ratio to address liquidity mismatches);    reducing the moral hazard posed by systemically important institutions (by envisaging specific additional capital, liquidity and prudential requirements to reduce the complexity of group structures);    strengthening accounting standards (with the transparency and the mitigation of pro-cyclicality);    expanding oversight of the financial system (to ensure that all systemically important activity – such as that of the hedge funds and credit rating agencies – is subjected to appropriate oversight and regulation);    strengthening the robustness of the over-the-counter (OTC) derivatives market (strengthening capital requirements and incentives, moving to central counterparties or organized exchanges);  objective  of  convergence,  The enormous complexity of the technical issues at stake, the strength of conflicting vested interests and the expanded number of participants in the negotiations explain why the process of financial reform is still underway more than two years after the outbreak of the crisis.
They are confronted with proposals to abolish cash and replace it by digital variants. But this, too, has implications for their relationship with their ultimate 1/3  BIS central bankers' speeches  clients – the general public. Central banks have issued cash since their inception.