The crisis has shattered the belief that well designed microprudential rules alone are sufficient. It is now increasingly recognized that significant asset-price increases (for example, in real estate or existing equities) may well be reinforced by the pro-cyclical nature of risk assessment embodied in those rules.
但危机彻底打破了那种认为单凭设计完善的微观谨慎监管系统就万无一失的观点。因为如今人们逐渐认同这些规则的风险评估体系中存在着延长经济周期的特性，并可能推动显著的资产价格增长（比如在房地产和现有的证券资产）。