It could lower costs, improve choice and strengthen protections for consumers and investors, especially in cross-border transactions. And it could improve macroeconomic conditions by providing additional, diversified, sources of financing to firms, especially SMEs.6 I will elaborate on climate change shortly.
Likewise, rebuilding trust in the  BIS central bankers’ speeches  3  banking sector requires the active engagement of bankers and their stakeholders. Regulatory and supervisory reforms are necessary, but not sufficient to restore people’s trust in banks.