Regulation and supervision form the framework for the banking industry and its future – which is why I have chosen to focus on these factors. 2. Banking regulation: considerably stricter  Quite soon after the crisis broke out, initial steps were taken at the global level to improve banking regulation. Without going into further detail, let me mention two extremely decisive measures.
One was that the capital rules were tightened. This is an appropriate step, since capital is still the most complete buffer a bank can hold to cover losses. For globally systemically important banks, we even went a step further. These banks now have to hold additional loss-absorbing instruments above and beyond capital.