Another has been the need to mitigate pro-cyclicality, the need for reform of the International Financial Institutions and the need to strengthen the macro prudential role of the IMF.
A greater level of consolidated supervision and the need to include insurance companies, broker-dealers and bank holding companies in the supervisory framework where this is not yet the case, were also emphasized in most reports on the crisis. Maintenance of liquidity under stress conditions and the need for review of accounting standards, particularly the mark-to-criteria were other areas identified by may studies.