These efforts include steps to improve corporate governance and banking practices, overhaul the legal frameworks, and strengthen prudential regulation and supervision of financial institutions.

CNN: REFORM IS CRUCIAL

Closely related to this third group of activities is a critical question that we as a country now face: how to strengthen our financial system, including our system of financial regulation and supervision, to reduce the frequency and severity of bouts of financial instability in the future.

FORBES: Reducing Systemic Risk

Better banking supervision and risk management - all the reforms we talk about endlessly here in the UK to strengthen the financial system - will be one part of making the world a safer place, in rich countries and emerging ones like Brazil.

BBC: IMF follows the money in Brazil