In September, 2008, the meltdown of the investment bank Lehman Brothers accelerated the Global Financial Crisis, which affected economies and consumers worldwide. As soon as the Global Financial Crisis broke out, governments and legislators recognized the need for macroprudential reform in order to build a resilient financial system. Today, legislators in every major jurisdiction have finalized almost all major reforms that were envisaged once it had become clear that the crisis was also due to regulatory shortcomings. The reforms especially targeted (over-the-counter) derivatives and the equity base of banks. Following an analysis of the reasons for the Global Financial Crisis and the regulatory failures that contributed to its severity this article will discuss two major legislative responses that intend to make the financial system robust – the establishment of a central dearing obligation for over-the-counter derivatives and the revised Basel Accords on capital requirements for banks.

中文翻译：

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雷曼兄弟之后的十年：对全球金融危机的主要监管对策的评估

2008年9月，投资银行雷曼兄弟（Lehman Brothers）的崩溃加速了全球金融危机，这场危机影响了全球的经济和消费者。全球金融危机一爆发，各国政府和立法者就认识到需要进行宏观审慎的改革，以建立具有弹性的金融体系。今天，一旦明确危机也归因于监管缺陷，几乎每个主要司法管辖区的立法者都已完成了几乎所有设想的重大改革。这些改革特别针对（场外）衍生品和银行的股本基础。