Financial Stability Governance: A Job Half Done

A Group of Thirty (G30) report by Sir Andrew Large, former Deputy Governor of the Bank of England and Chairman of the Senior Advisory Board of Oliver Wyman

Sir Andrew argues that “The job to secure financial stability is incomplete.” He warns: ‘The next crisis could come from directions quite different from those that led to the crisis of 2007–09, and despite all the recent efforts, can we really feel confident that we have somehow cracked the problem and got financial stability under better control than ten years ago?” The paper asks and then provides answers to the following: How safe should the system be? What operational framework is needed? How can trust be engendered between public authorities