The Financial Stability Board has launched a major effort to evaluate whether post-crisis reforms have ended the problem of banks being “too big to fail” and whether the policies have had unintended side effects.

Deutsche Bundesbank vice-president Claudia Buch is to chair a working group to assess whether reforms are reducing the moral hazard and systemic risk created by major banks. The review is also tasked with judging the broader effects of reforms on the “overall functioning” of the