6  BIS central bankers’ speeches  salient features of the Discussion Paper were advocating a multi-tiered banking structure to cater to various niches of the society supplemented by a process of continuous authorisation for new banks to enhance competition, enrich product diversity and promote newer ideas in the financial marketplace.
They might also include universal margin requirements on securities financing transactions, as a way of mitigating fire-sales risks. We might argue about various aspects of calibration and implementation, but I don’t think there is too much controversy about the basic proposition that strong, comprehensive regulation aimed at enhancing resiliency is essential.