A constant monitoring of resilience should become part of the new regime. Third, the approach should be holistic. The global proportions of the crisis call for a rethinking of the links between financial behaviour and macroeconomic policies. This has two implications. The first concerns domestic governance.
Major economies need to complement  BIS Review 125/2009  9  their micro-prudential apparatus with a new macro-prudential function. Macroeconomic resilience calls for a systemic analysis of risk. Macro-prudential supervision offers this type of analysis and can act as a countervailing force to the tendency of the financial system to amplify economic swings.