I will do my best to make these points in plain English rather than economic jargon, but feel free to correct me if I lapse back into it – my children certainly do.
The risk of a roll back of reforms is particularly acute when business models of incumbent financial institutions are under pressure as a combination of excess capacity in some markets, changing patterns of globalization, and technological change.7 Since the financial crisis, reforms have been initiated – the impact of which is now gradually making itself felt in the markets.