There is also opening up of the economy and increasing integration with the global economy. As this happens, the regulator has to ensure that the banking system is strong, healthy and resilient to withstand shocks.
From the perspective of banking and financial market supervisors, it means that we need to regulate risky trading strategies and risky business models more rigorously. Therefore, to give you just one example, we now expect institutions with such approaches to refinance themselves to a greater extent using equity, rather than debt.