In order to prevent a repeat of the crisis that started the worst recession since the 1930s, the central bank must increase its focus on maintaining financial stability,Federal Reserve Chairman Ben S. Bernanke remarked at a conference to the russell Sage Foundation and The Century Foundation on Rethinking Finance on Friday.

The 58-year-old said today that the global financial framework contained key vulnerabilities before the crisis, particularly with regards to the shadow banking sector of the markets, which backed the government policy response to the financial panic.