Mapping global financial networks, deeper engagement with large complex financial intermediaries (LCFIs), asset managers and central counterparties (CCPs); and closer and more effective cooperation with standard setting bodies, including the ongoing engagement with the Financial Stability Board (FSB) on the Early Warning Exercise (EWE) are some initiatives in this genre.
The lessons of the crisis also underscore that the focus on important financial centres and systemically important countries should be intensified. 12. There is a rationale for strengthened financial sector surveillance in assessing macro-systemic risks in view of the lessons of the crisis.