Each global regulatory initiative is designed to enhance financial stability, protect investors and consumers, and make it easier to deal with failing banks. However, the law of unintended consequences will kick in and they could also have significant negative impacts on banks and their business models and banks' customers and the real economy.
This report explores some of the key challenges and areas of focus for banks facing the implementation of the "first wave" of regulatory reforms and a new, "second wave" of reforms.