Developing economies can improve their financial systems by following global regulatory reforms. They should adjust international standards to fit their financial institutions' size and complexity, market operations, available information, and supervisor capacity. Smaller institutions with simpler business models can have a less complex regulatory framework to strengthen the financial sector without high costs. The paper offers guidance on how countries not part of the Basel Committee can include banks' capital and liquidity standards in their system, drawing from the authors' experience in assisting with and evaluating compliance with international banking supervision standards.