A TCH commissioned study conducted by Oliver Wyman examines whether regulatory changes and changes to the banking system since the 2008 crisis have improved the financial stability of the U.S. banking system. The main conclusion is that stability of the U.S. banking system has improved, particularly along a number of key dimensions by extending the reach of prudential regulation and supervision, and reducing the risk of insolvency, the risk of runs, and the risk of contagion. 

The study also cautions that the recent gains in stability of the U.S. banking system cannot be taken for granted. If it becomes economically unfeasible for banks to continue to deliver services within existing regulatory frameworks, these services will migrate to parts of the financial system with less regulatory cost and less oversight. Therefore, it is necessary for policymakers to continually ensure that the new, more robust banking system architecture is sustainable.