Where we are, and where we need to go  What helps this purpose is to remember the costs of the crisis. Combining the direct costs of stabilising the financial system with the costs of foregone production due to underutilised economic capacities, the global costs are huge.
When we carry out cost-benefit analyses of regulatory measures, we should remember the enormous amount of tax money spent on bank bail-outs. This experience and the fact that regulatory failure was one of the key causes of the financial crisis, put pressure on policymakers and supervisors to revamp the regulatory framework.