Just as each country needs to maintain a balance between acceptance and adherence to global standards, the group needs to accommodate a possibly thin and blurred line between conformity and autonomy. Its effectiveness on all the issues that it seeks to address, but particularly on the structural ones, will depend heavily on this accommodation.
In the past, it was sometimes argued that banks and capital markets were competing with each other for a limited amount of viable investment opportunities.2 Some have even seen capital markets as threatening traditional banking models. However, banks and capital markets are rather closely interconnected as parts of the wider financial system: banks and markets complement each other in financing the real economy.