4  BIS central bankers’ speeches  Other regulatory efforts to improve the resiliency and resolvability of GSIBs The financial crisis made clear that policy makers must devote significant attention to the potential threat to financial stability posed by our most systemic financial firms.
Accordingly, the Federal Reserve has been focused on developing regulatory proposals that are designed to reduce the probability of failure of a GSIB to levels that are meaningfully below those for less systemically important firms and materially reduce the consequences to the broader financial system and economy in the event of failure of a GSIB.