1. Issues for discussion
a. Which new sources of vulnerabilities are building up a decade after the 2008 crisis?
- Risks associated with the growing importance of non-bank lenders. In some EMEs, this may result in credit lending going informal due to a relatively higher cost in credit provision due to regulation.
- Risks that can emerge from a less developed financial infrastructures outside the regulatory perimeter.
- Risks attributed to disruptive FinTech activities, such as the development of crypto-assets markets, as well as cybersecurity issues.
- Risks and challenges associated with the changing nature of banks' business model. In particular, those coming from the internationalization of banks' activities.
b. How to better consider a cost-benefit framework for financial regulation, such as currency-based measures (CBM)?
- While the banking regulation and supervision arising from the 80s-banking crisis was restrictive in several ways, it was supported by sound monetary and fiscal policies.