I note that market participants should also consider these ideas, since it is not just policymakers who can learn lessons from past crises. First, one of the major lessons to be learned from past banking crises is the importance of a healthy banking system.
Maintaining a safe and sound banking system, given the key role that banks play in most financial systems, contributes to the health of a country's overall economy. Most countries do this by some form of banking supervision, generally accepting that the added protection to the banking system in the form of supervision is worth the costs of the regulatory burden.