But in an integrated global economy, financial regulation has to rely on internationally agreed standards. To the extent that countries around the world are signing up to these standards, the conditions for growth in a financially stable environment are being reinforced globally. Of course, this does not mean that we should not look back and evaluate critically what has been done already.
The FSB, together with other bodies, will undertake a broad evaluation of the individual and combined effects of past reforms. It will assess if the initial objectives have 1/3  BIS central bankers' speeches  been achieved or if there are any unintended consequences that call for changes to the regulatory framework.