diff --git a/config/StdGNU.mk b/config/StdGNU.mk
index 39d36b298b..6be8233205 100644
--- a/config/StdGNU.mk
+++ b/config/StdGNU.mk
@@ -35,14 +35,6 @@ UTIL_LIBS = -lutil
 SONAME_LDFLAG = -soname
 SHLIB_LDFLAGS = -shared
 
-ifneq ($(debug),y)
-CFLAGS += -O2 -fomit-frame-pointer
-else
-# Less than -O1 produces bad code and large stack frames
-CFLAGS += -O1 -fno-omit-frame-pointer
-CFLAGS-$(gcc) += -fno-optimize-sibling-calls
-endif
-
 ifeq ($(lto),y)
 CFLAGS += -flto
 LDFLAGS-$(clang) += -plugin LLVMgold.so
diff --git a/config/SunOS.mk b/config/SunOS.mk
index 86a384d946..0fe5f45590 100644
--- a/config/SunOS.mk
+++ b/config/SunOS.mk
@@ -31,12 +31,5 @@ UTIL_LIBS =
 SONAME_LDFLAG = -h
 SHLIB_LDFLAGS = -R $(SunOS_LIBDIR) -shared
 
-ifneq ($(debug),y)
-CFLAGS += -O2 -fno-omit-frame-pointer
-else
-# Less than -O1 produces bad code and large stack frames
-CFLAGS += -O1 -fno-omit-frame-pointer
-endif
-
 CFLAGS += -Wa,--divide -D_POSIX_C_SOURCE=200112L -D__EXTENSIONS__
 
diff --git a/stubdom/Makefile b/stubdom/Makefile
index 571704d9ae..2921f30820 100644
--- a/stubdom/Makefile
+++ b/stubdom/Makefile
@@ -6,6 +6,8 @@ export XEN_OS=MiniOS
 
 export stubdom=y
 export debug=y
+# Moved from config/StdGNU.mk
+CFLAGS += -O1 -fno-omit-frame-pointer
 
 ifeq (,$(findstring clean,$(MAKECMDGOALS)))
   ifeq ($(wildcard $(MINI_OS)/Config.mk),)
diff --git a/tools/Rules.mk b/tools/Rules.mk
index 5a80fecce1..0e73690b00 100644
--- a/tools/Rules.mk
+++ b/tools/Rules.mk
@@ -138,9 +138,11 @@ SHLIB_libxenvchan  = $(SHDEPS_libxenvchan) -Wl,-rpath-link=$(XEN_LIBVCHAN)
 
 ifeq ($(debug),y)
 # Disable optimizations and enable debugging information for macros
-CFLAGS += -O0 -g3
+CFLAGS += -O0 -g3 -fno-omit-frame-pointer
 # But allow an override to -O0 in case Python enforces -D_FORTIFY_SOURCE=<n>.
 PY_CFLAGS += $(PY_NOOPT_CFLAGS)
+else
+CFLAGS += -O2 -fomit-frame-pointer
 endif
 
 LIBXL_BLKTAP ?= $(CONFIG_BLKTAP2)
diff --git a/xen/Rules.mk b/xen/Rules.mk
index a9fda7146d..08cc776ebc 100644
--- a/xen/Rules.mk
+++ b/xen/Rules.mk
@@ -46,6 +46,12 @@ ALL_OBJS-y               += $(BASEDIR)/xsm/built_in.o
 ALL_OBJS-y               += $(BASEDIR)/arch/$(TARGET_ARCH)/built_in.o
 ALL_OBJS-$(CONFIG_CRYPTO)   += $(BASEDIR)/crypto/built_in.o
 
+ifeq ($(CONFIG_DEBUG),y)
+CFLAGS += -O1
+else
+CFLAGS += -O2 -fomit-frame-pointer
+endif
+
 CFLAGS += -nostdinc -fno-builtin -fno-common
 CFLAGS += -Werror -Wredundant-decls -Wno-pointer-arith
 CFLAGS += -pipe -g -D__XEN__ -include $(BASEDIR)/include/xen/config.h