Market exits should therefore not be a taboo subject. 4. The European banking union  Ladies and gentlemen, the situation in the financial markets has unquestionably calmed down compared to 2012. However, we must not let this divert our attention from the structural problems besetting the banking sector.
A significant reorientation was going on, away from regulating the conduct of banks and towards the new risk-based approach. The regulatory trend, based on increased freedom for banks but subject to riskbased capital requirements, would continue all the way to the eruption of the financial crisis in 2008.