The policy implications of these trade-offs are intimately related to those that surround the debate on the treatment of systemically important financial institutions (SIFIs) viewed as too-important-to-fail (TITF). The growing complexity and interconnectedness of financial institutions, coupled with the lack of effective cross-border resolution regimes, have undermined market discipline, contributed to excessive risk taking, and compromised the ability of home and host authorities to cope with the failure of TITF institutions. A number of policy options have been proposed to address this problem, including steps to discourage size and interconnectedness, improve the capital and liquidity buffers held by such institutions,.