Jonathan Hill (2015, 2016) recently spoke about “a brave new world for banks” and the need of a revolution in which banks are reformed and restructured with respect to both their business models and governance. Supervisors will also have to adapt to this revolution.
BIS central bankers’ speeches  7  Despite the progress made in the past few years, with Banking Union as the flagship of the reform effort, more progress is needed as Economic and Monetary Union (EMU) remains incomplete. Divergence across the euro area is significant and the crisis of recent years has further highlighted existing shortcomings and important differences that need to be bridged.