The nature of financial risks has morphed and migrated in recent years; problems caused by irresponsible banks and threats to the payment and settlement systems have been supplanted by those caused by risk-taking among non-bank institutions. With the regulatory system failing to evolve accordingly, the potential effectiveness of some macro-prudential policies has been undermined.
近几年来，金融风险的性质发生了改变和迁移；不负责任的银行所造成的危险以及对支付和结算系统的威胁被非银行机构的冒险行为所取代。由于监管系统不能随机应变，一些宏观审慎政策的潜在效果也遭到了破坏。