A decade after the global financial crisis, policymakers worldwide are still assessing how best to prevent bank failures from tanking the economy again. Two recent publications — one from the US Department of the Treasury, and another by Federal Reserve economists — provide an indication of where we are.

The US Treasury report examined whether to replace the 2010 Dodd-Frank Act’s regulator-led process for resolving failed mega-banks — the Orderly Liquidation Authority (OLA) — with a solely court-based mechanism.