The devastating events that beset financial markets in the summer of 2007 led to a huge contraction in global economic output and left the financial and banking systems in the core economies of the United Kingdom, United States and Europe on the brink of destruction. The ensuing fallout from...

Reform of financial regulation is a priority on the international agenda. At the call of the Group of Twenty Finance Ministers and Central Bank Governors (G-20), a number of new international standards have been issued, most notably Basel III. As a member of the G-20, the Financial Stability...