Banking sector Performance Our banking sector emerged virtually unscathed from the global financial crisis. While bank failures made the headlines in other countries, our banks weathered these difficult times without any systemic or institutional failures. Banking sector assets declined very slightly by 0.4 per cent while banking deposits increased by 2.1 per cent between December 2008 and December 2009.
Since the global financial crisis, the regulatory framework has been substantially reformed, through the work of the Financial Stability Board, international standard-setters, regional bodies such as the European Commission, and the new laws and regulations established in jurisdictions all over the world.