"After the $2008$ Global Financial Crisis, policymakers and regulators worldwide took steps tostrengthen banks against future shocks. The Tier $1$ capital ratio has risen from less than $4$percent on average for US and European banks in $2007$ to more than $15$ percent in $2017.$ Thelargest systemically important financial institutions must hold an additional capital buffer, andall banks now hold a minimum amount ofliquid assets.$[$Lund et al$.,2018$

Discuss the above statement.$($a$)$

$[10$ marks$]$

Examine any other regulatory reforms apart from the one stated in the above statement.