Since the 2008–9 global financial crisis (GFC), financial stability policies have been concerned with regulatory tools, not the supervisory structures that manage those tools to achieve financial stability. There were very few jurisdictions that did not let this good crisis go to waste by taking the initiative of reforming their supervisory structures, and fewer still changed their supervisory model. Undoubtedly, the underlying premise from the GFC was that the financial system is robust yet fragile in so far as financial instability can inconspicuously and rapidly spread causing a financial crisis. Interconnections between the financial system components converted systemic risk absorbers into amplifiers that destabilized financial institutions, including those seemingly unexposed and prudently administrated. Banks were particularly vulnerable to systemic risk from maturity mismatches, the levered nature of the business model, and being highly susceptible to credit and liquidity risks.