The Bank fully recognizes that, by continuing such monetary easing, financial institutions' strength will be cumulatively affected by low profitability, mainly through a decrease in their lending margins, and that it could have an impact on financial system stability as well as the functioning of financial intermediation.
These activities could be done much more efficiently in a technology sense by far fewer entities, but our seemingly crazy quilt structure creates a different kind of efficiency--one that emphasizes constant cost minimization, innovation, and flexibility.