The regulatory effort launched after the crisis, which aimed to strengthen the banking sector, is practically complete. This is confirmed by authorities, from the Financial Stability Board to the European Commission and the European Central Bank (in its supervisory capacity): it is time to move beyond the regulatory phase and drive the implementation of approved reforms. Within this new phase, the growing importance of supervision focused on conduct and culture stands out, as the pillars on which the necessary trust between banks and citizens must be built. After all, the experience of both the crisis and subsequent years has demonstrated how governance and conduct problems jeopardize the solvency of banks and ultimately their very survival.
José María Roldán, Chairman of the Spanish Banking Association
