"In the financial system we have today, with less risk concentrated in banks, the probability of systemic financial crises may be lower than in traditional bank-centered financial systems"

This quote by Timothy Geithner recommends that the current financial system, which is less dependent on banks, may be less prone to systemic monetary crises than standard bank-centered financial systems. This is since the risk is expanded among various banks, instead of being focused in banks. This suggests that if one institution stops working, the impact on the total financial system is less severe. This could result in fewer systemic monetary crises, as the danger of a single organization stopping working is decreased. In addition, the increased variety of banks could lead to more stability in the financial system, as various institutions can supply various product and services. In general, this quote suggests that the current monetary system may be more resilient to systemic monetary crises than traditional bank-centered financial systems.