Banks need to identify their goals and then look to identify the kinds of products and services that can help them move forward to implement that strategy. In the past, I have spoken about the importance of considering the impact of new technologies and finding ways to leverage them, if a bank feels that it fits into its business model and strategy.
Later decisions to support economies and financial systems in the wake of the GFC would further stretch fiscal positions. Fourth, global imbalances were also continuing to worsen. While the causes of these imbalances are complex, the lack of fully flexible exchange rate regimes in some countries was undoubtedly an aggravating factor.