It is important to recognise that, in an interconnected world, one is only as safe as the weakest link. It is, therefore, crucial for us to think about how to strengthen the resilience of the wider financial system.
But many participants in the public policy debate on regulatory reform believe that more will need to be done to ensure the safety and soundness of financial institutions, guard against systemic risk, and substantially contain the too-big-to-fail problem. Some additional potential regulatory devices are already under active consideration, both among U.S. bank supervisors and in international forums.