The Framework has identified certain structural impediments in the way of smooth resolution/recovery of stressed assets of banks and suggested steps, such as, revamping the SARFAESI Act, revitalizing DRTs, etc. and rejuvenating Asset Reconstruction Companies, are also being mooted. 16.
As a practical matter, though, much post-crisis regulatory reform has been directed at strengthening the traditional form-based foundation, though perhaps to a somewhat greater degree in the United States than in some other financially important jurisdictions.