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We take note of the work by the Financial Stability Board on financial market reform, and commit to sustaining or strengthening our frameworks for macroprudential regulation and countercyclical buffers. We will hasten completion of the reform agenda on financial market regulation, including assessing and if necessary reducing the systemic risks associated with shadow banking, markets for derivatives, securities lending and repurchase agreements. We also commit to addressing the risk created by “too-big-to-fail” financial institutions and addressing cross-border elements in effective resolution of troubled systemically important financial institutions.