The arguments against deregulation were that it would hurt the asset-liability management of banks which had built up a dependence on the low cost, large volume and fairly stable savings deposits and that the adjustment to a deregulated regime would set off an unhealthy competition among banks, potentially impairing their balance sheets.
Some of the new institutions were established to exorcise wartime inflation and restore access to credit; others were born out of the dissolution of empires, or the weakening of ties to imperial colonies; all of them reflected an attempt to ‘return to normalcy’, by rebuilding an international monetary order and restoring cooperation in the aftermath of a devastating world war.