The G20 countries have taken several mechanisms and initiatives to ensure banking system safety. Overall, their efforts have been effective in strengthening the resilience of the global financial system. 1. Implementation of Basel III Standards: G20 countries have adopted the Basel III standards, which require banks to maintain higher capital and liquidity buffers. This has improved the ability of the banking system to absorb shocks and ensure financial stability. 2. Enhanced regulation and supervision: G20 countries have enhanced regulations and supervision of banks, such as stricter risk management requirements, stress testing, and improved disclosure standards. These measures have contributed to reducing systemic risks and enhancing bank stability. 3. Global coordination and cooperation: G20 countries have emphasized the importance of international cooperation and coordination in ensuring banking system safety. This includes sharing information, coordinating regulatory efforts, and establishing crisis management frameworks. These collaborative efforts have facilitated a more robust and coordinated response to financial vulnerabilities. 4. Financial stability boards: G20 countries have established Financial Stability Boards (FSBs), which monitor and make recommendations to strengthen the global financial system. The FSB assesses vulnerabilities and promotes effective regulatory and supervisory practices, leading to a safer banking system. 5. Cross-border resolution frameworks: G20 countries have developed mechanisms for the orderly resolution of banks in distress. This allows for the effective management of failing banks, reducing the risk of contagion, and protecting depositors. While it is impossible to completely eliminate risks in the banking system, the measures and initiatives undertaken by G20 countries have significantly improved the safety and stability of the global banking sector.