The number of new rules confronting banks will bring about seismic change in the financial services industry. From new capital and liquidity requirements, to resolution and recovery planning, to tighter constraints on business lines and leverage, to changes in market infrastructure and improvements to consumer protection, banks face a regulatory tidal wave. And they must act while the current is still moving. While the direction already set for the industry was upheld by last year's G20 summit in Cannes, at a national and regional level, a huge amount has yet to be finalised and implemented.
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