Một khi chiến lược trên được thực hiện thời gian là chín muồi để phát triển hơn nữa và thực hiện một khuôn khổ thích hợp để đối phó với các rủi ro trong tương lai của cuộc khủng hoảng tài chính. Lý tưởng nhất, một khuôn khổ mới sẽ chứa các quy tắc cho phòng cuộc khủng hoảng và | European Commission Economic Crisis in Europe Causes Consequences and Responses Once the above strategy is implemented the time is ripe to further develop and implement an appropriate framework to deal with future risks of financial crisis. Ideally such a new framework would contain rules for crisis prevention and - to take out insurance against cases where even the best of prevention policy fails to deliver - rules for crisis control mitigation and resolution. The focus of EU action so far however has been on the prudential aspects of bank regulation and supervision. . CRISIS PREVENTION . Regulatory i nitiatives The EU quickly responded to the financial crisis with the ECOFIN roadmap for regulatory reform and the March 2009 Commission Communication Driving Economic Recovery. These two action plans provide the basis for strengthening the regulatory framework for the EU and are in line with global initiatives that formed the basis for the G20 regulatory agenda as well as the Geitner plan in the United States. In addition the EU reacted rapidly in amending existing legislation by tightening the rules for banks liquidity lines to the structured investment vehicles that were used to hold securitised products. Moreover principles on liquidity management were updated. In accordance with the roadmap the EU has agreed to make changes to the regulatory treatment of securitisations hybrid capital and home-host supervisory arrangements and key improvements in the flows of regulatory information. In a sector where the majority of assets are held by thirty six cross-border banks it is important to note that supervisory colleges for each of these institutions are being set up. Ongoing initiatives at the EU level will further address liquidity leverage dynamic provisioning and the quality of capital. Another line of regulatory reform aims at addressing areas with little oversight in the past. The EU has agreed on appropriate rules for Credit Rating Agencies to ensure that
