Deregulation has created important structural changes in the financial services industry and has contributed significantly to creating a marketplace that is increasingly competitive and highly innovative as a result of the entry of new players or expansion of existing players. Throughout our banking history, we have seen significant adjustments to existing policies to enable markets to respond to the demand for services.
That creates a unique environment that is calling for reshaping our models and updating analytical tools. That is why it is so important to gather for such discussions and look for the solutions in our areas of responsibility. In what follows, I would like to share several of my personal lessons from the recent developments on the sidelines of our workshop.