The problem with this behaviour is that the risks stemming from these transactions could potentially affect the entire financial system. This is why the G20 have made the issue of financial market regulation a priority. In cooperation with the Financial Stability Board and the Basel Committee on Banking Supervision, they are working to develop a coherent regulatory framework at the global level.
Even so, I’m concerned to see that some countries outside Europe are adopting their own regulatory 2  BIS central bankers’ speeches  initiatives which breach the principle of cross-border coherence. I believe that the danger of banking regulation one day returning to the principle of “every man for himself” needs to be taken seriously.