The FSB is in many ways the international manifestation of these efforts;    Third, the regulatory perimeter is being expanded. Major jurisdictions are finalizing legislation that for the first time establishes formal oversight over the OTC derivatives markets and its major dealers, hedge funds and credit rating agencies.
In  BIS Review 31/2010  1    Fourth, we have put in place cross-border oversight and crisis management contingency planning for the largest and most complex global financial institutions, each of which now have functioning core supervisory colleges and crisis management groups.