Among other things, securitization and  BIS Review 23/2010  1  associated derivative instruments were merging capital markets and traditional lending activities, thereby fueling the growth of the shadow banking system. The regulatory system had also evolved, notably through progressively more detailed capital requirements and increasing demands that banking organizations enhance their own riskmanagement systems.
New challenges materialised for the IMF and the World Bank with the collapse of communism, which resulted in 20 new members needing specific policy advice for the transition from centrally planned economies. Since the Asian crises in the 1990s, the IMF and the World Bank have again been undergoing considerable changes.