And it can come in different shapes and forms: central banks being called upon to change their monetary policy because the current stance, it is claimed, is destroying earnings opportunities for banks; regulators being asked to revisit reforms because they’re said to be driving up costs too strongly; and policymakers being asked to steer Brexit negotiations such that the financial sector doesn’t suffer disadvantages during divorce proceedings.
Equally, the annual growth rate of loans to the private sector has shown some signs of stabilising since mid-2006, albeit at double-digit levels. The stabilisation of loan growth is now becoming more broad-based, and is apparent in borrowing by both non-financial corporations and households.