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Minimising the impact of future fi nancial crises: six key elements of regulatory reform we have to get right

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  • Caruana, J.

Abstract

To be as prepared as possible for the next financial crisis, we should not embark on a long list of detailed proposals that we believe might have prevented the last one. Instead, we should strengthen existing regulatory frameworks to take into account their fundamental shortcomings highlighted by the recent crisis. This improvement should focus on the essentials and be based on a few simple principles so as to be robust against unforeseen events. We have to get these key elements right to ensure that the next episode of stress in financial markets is less disruptive and costly than the current one.

Suggested Citation

  • Caruana, J., 2009. "Minimising the impact of future fi nancial crises: six key elements of regulatory reform we have to get right," Financial Stability Review, Banque de France, issue 13, pages 43-51, September.
    • Handle: RePEc:bfr:fisrev:2009:13:5
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    File URL: https://publications.banque-france.fr/sites/default/files/medias/documents/financial-stability-review-13_2009-09.pdf
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    Cited by:

    1. Pierre Sola & Francesco Strobbe, 2011. "Addressing data gaps revealed by the financial crisis: European Central Bank statistics on holdings of securities," IFC Bulletins chapters, in: Bank for International Settlements (ed.), Proceedings of the IFC Conference on "Initiatives to address data gaps revealed by the financial crisis", Basel, 25-26 August 2010, volume 34, pages 141-150, Bank for International Settlements.

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