The architects of coming global financial reforms must soon decide how best to identify, measure and curb systemic risk in the banking system. Their initial reflex was to propose the break-up of banks that were seen as “too big to fail”. The shortcomings of this approach quickly became apparent, so the focus is now on a surcharge in the form of higher capital requirements, levied on those institutions deemed to be systemically significant. But this focus is too narrow.
未來全球金融改革的設計師們必須很快決定如何最好的識別、衡量并控制銀行體系中的系統性風險。他們的最初反應是提議分拆那些被視為“大得不能倒”的銀行。這一策略的缺點很快變得明顯起來，因此現在的關注點是以更高資本金要求的形式，對那些被視為具有系統重要性的機構進行額外收費。但這種關注過于狹隘。
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