Financial supervisory architecture: what has changed after the crisis?

FSI Papers  |  No 8  | 
30 April 2018
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Institutional design for financial sector oversight must be fit-for-purpose, if it is to support the post-crisis regulatory reforms. After the Great Financial Crisis, most jurisdictions have implemented incremental changes in existing supervisory models. In particular, regulators have added macroprudential policy and bank resolution to their repertoire. They have also strengthened consumer protection and taken a more comprehensive view of financial stability. Some jurisdictions have gone further, by also changing their financial supervisory models. In most cases, supervisory functions have become more integrated, while central banks have taken on a more prominent role, acquiring more responsibility for microprudential, macroprudential and resolution policies.