The financial crisis exposed a range of vulnerabilities in the financial system. These included financial weakness of many banks, poor risk management, systemically risky interconnections and, in a number of cases, an absence of intensive supervision. Since then, a significant, multi-year regulatory reform programme has taken place, designed to address these failings and leading to a financial system that is both more resilient and better able to contribute to sustainable growth. The framework is now in place to ensure stronger, safer banks, and to bring an end to “too big to fail”.