Many new topics also joined the research agenda, such as: the misuse of the so-called originate-to-distribute model, in particular resorting to complex derivatives and other opaque products; the pro-cyclical nature of the existing capital regulation framework; the adequacy of financial regulation and supervision frameworks. Banks were forced to adapt their business models and management strategies.
In particular, the very low interest rate environment and the unconventional monetary policies conducted by the main central banks dramatically changed the operating environment and the incentives for banks and markets. At present, there are four key issues that in my opinion deserve the attention of policymakers and researchers:  1.