Abstract
The current worldwide financial crisis is the result of a confluence of elements that have existed in previous financial crises as well as some fresh elements. Several flaws in financial architecture and regulation have come to light as a result of the crisis, particularly in how systemically important financial institutions are handled. Financial institutions, systemic risk and vulnerability assessments, and financial institution resolution. The fact that the financial crisis is a global phenomenon has demonstrated that, while financial integration markets provide many advantages, they can also carry a high risk of serious economic consequences. To ensure the stability of a world that is becoming more and more financially interconnected, significant modifications to the international financial architecture are obviously required
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