After all, the financial crisis had exposed shortcomings in the financial system as a whole as well as in its regulation. The aim of the regulatory agenda is therefore to eliminate these shortcomings and to make the financial system as a whole more resilient.
The plan of action adopted in Washington marks the hour that the regulatory agenda saw the light of day, so to speak. At the following G20 summits, this agenda was successively refined and worked through stage by stage. In this context, the international Financial Stability Board (FSB) plays a key coordinating role.