Closely related to this third group of activities is a critical question that we as a country now face: how to strengthen our financial system, including our system of financial regulation and supervision, to reduce the frequency and severity of bouts of financial instability in the future.

FORBES: Reducing Systemic Risk

The supervision of the financial system has been overhauled to meet international norms.

ECONOMIST: THE KOREAS

Sadly, much of her excellent work was destroyed under the Tony Blair government when chancellor Gordon Brown's profligacy wrecked the public finances and his ill-advised changes to banking supervision severely damaged the financial system.

CNN: Why Britain needs another Thatcher

The first is financial: the euro zone needs a region-wide system of bank supervision, recapitalisation, deposit insurance and regulation.

ECONOMIST: The future of the European Union

It means that our supervision and our mechanisms for looking at trouble spots in our financial system are superior to what they were back in 2008.

WHITEHOUSE: President Obama holds a Press Conference at the G20 Summit

Market forces and models are useful tools but strong supervision and regulation should always be in the first line of defense in protecting our financial system.

FORBES

Better banking supervision and risk management - all the reforms we talk about endlessly here in the UK to strengthen the financial system - will be one part of making the world a safer place, in rich countries and emerging ones like Brazil.

BBC: IMF follows the money in Brazil