Luis M Linde: Reflections on the road and challenges ahead – regulatory changes affecting banking activity Closing address by Mr Luis M Linde, Governor of the Bank of Spain, at the IX IESE (Instituto de Estudios Superiores de la Empresa/Business School of the University of Navarra) Banking Sector Meeting “Banks – beyond the crisis”, Madrid, 12 December 2013. *  *  *  Firstly, let me thank Professor Juan José Toribio, the president of the Centro Internacional de Finanzas, for inviting me to participate in this IESE Banking Sector Meeting. And allow me to congratulate the IESE on this ninth edition of a forum that has become a classic and has consistently been of the greatest interest and highest calibre. I am not going to address certain matters that are very important and topical, such as the signs of recovery in the Spanish economy, the initial steps of the launch of the Single Supervisory Mechanism, or the asset quality review or stress tests for those banks that are to be supervised by the Single Mechanism. I would hardly have anything novel to say there. Rather, I wish to review some aspects of the regulatory changes which, once the crisis has been overcome, are going to significantly affect banking activity.
To conclude: 2014 will, as we all know, be an extremely intense year as far as international financial regulation and supervision are concerned. There will be no lack of work. My best wishes to all of you and good luck. Thank you. 4  BIS central bankers’ speeches