An interval in the process of changing the rules would be welcome, not only to allow the banks to fully adapt to the new system, but also to prevent the incessant production of rules from itself becoming a source of uncertainty, and thus a hindrance to banking activity.
Over a broader time frame, the growth of digital technologies is bound to increase the pressure of competition and squeeze banks’ profit margins. The availability of information on households’ and firms’ economic behaviour has increased enormously in the last ten years, as has the ability to process it.