All our payment systems have proved their worth during the pandemic. Among other things, I remember the efforts taken to tag the payment systems and the stakeholders as 'essential services'. This was a single-most defining factor which enabled everyone to carry out various transactions unhindered. 6.
A requirement to hold more high quality liquid assets and/or to lengthen the maturity of debt has a similar effect. Of course the costs of equity and debt may not be, and actually should not be, constant as banking leverage declines. The cost of wholesale debt should fall over time if the equity buffer, which protects unsecured creditors against losses, is larger.