Many of the challenges the central banks are facing are almost similar which could be summarized as follows: Challenges with globalisation First, globalisation has brought in its train considerable fuzziness in reading underlying macroeconomic and financial developments, obscuring signals from financial prices and clouding the monetary authority’s gauge of the performance of the real economy.
In general, I can report that the financial firms of the developed countries, like those in the United States, either are, or appear to be making good progress toward being, prepared. Similarly, the financial institutions of a number of transitional economies are well advanced.