Improvements to the supervisory and regulatory framework will help create a more stable financial system. In addition, we will have a stronger economy. Businesses will have boosted the efficiency of their operations. And households will be less indebted and saving more.
Wider and active participation of all stakeholders like other financial regulators, government – state & federal both – financial service providers, academia and others in civil society, is needed in this grand initiative. Also we require massive global efforts and co-operation for achieving tangible results in this area. 2  BIS Review 41/2010  17.