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In 1999 further concern about the danger of instability led to the creation of the Financial Stability Forum to promote information exchange and international co-operation in financial supervision and surveillance.

At the meeting of the leaders of the G20 countries on 15th November 2008 it was agreed that action should be taken to:-

• strengthen financial market transparency and accountability,
• strengthen regulatory regimes, prudential oversight, and risk management,
• protect the integrity of the world's financial markets by bolstering investor and consumer protection, avoiding conflicts of interest, preventing illegal market manipulation, fraudulent activities and abuse, and protecting against illicit finance risks arising from non-cooperative jurisdictions; and promote information sharing, including with respect to jurisdictions that have yet to commit to international standards with respect to bank secrecy and transparency,
• coordinate the regulation of financial markets and strengthen cooperation on crisis prevention, management, and resolution,

and that

• regulators were to develop guidance to strengthen banks' risk management practices,
• regulators were to ensure that financial firms improve their management of liquidity risk,
• the Basel Committee was to help the development of new stress testing models,
• financial institutions were to create incentives to promote stability, and avoid rewarding risk taking, and,
• banks were to exercise effective risk management and due diligence over structured products and securitization.

(The actions that were agreed are listed in more detail at the addendum [[1]] to the article on the G20 summit.)