The priority at the moment was to ensure stability in the banking and financial system, he said.

BBC: Cameron: We're in this together

Financial difficulties of the Spanish government threaten the stability of the Spanish banking system and vice versa.

FORBES: A Better Solution For The Euro Crisis: Europeanization Of Banking

As Mr Borio at the Bank for International Settlements points out, many of the ideas around countercyclicality (setting aside more capital in good times) and macroprudential regulation (safeguarding the stability of the whole banking system as well as of individual banks) were oven-ready, having been worked on by a coterie of central bankers, academics and regulators for a number of years.

ECONOMIST: Banks will still make money, just less of it

At the Center for Financial Stability, we specifically measure the banking system and broader money supplyexisting in the private sector.

FORBES: Bernanke Still Pouring Shots Of QE To Markets Already Drunk On Liquidity