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Global banks adapt to uncertain economics and regulations - EY - Global

Global banks adapt to uncertain economics and regulations

Global banks adapt to uncertain economics and regulations

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The following institutions were represented at the 2011 Bank Directors Summit:
 Bank of America
 Bank of China
 Barclays PLC
 BNY Mellon
 Credit Suisse
 Deutsche Bank
 JPMorgan Chase
 Macquarie Group
 Morgan Stanley
 Société Générale
 TD Bank
 U.S. Bancorp

While talk of a "once-in-70-years" depression may have passed, major concerns about the short- and medium-term outlook for global economic and financial regulatory reform persist.

To discuss the impact on the banking industry, EY and Tapestry Networks recently welcomed 18 board members of global banking institutions to the third annual Bank Directors Summit in New York. Over the course of the summit, these non-executive board members shared experiences and insights on the major challenges facing their organizations.

Since the summit in 2010, they agreed the degree of uncertainty facing the industry has increased. Consider these developments:


The European economy has stalled, with debt and budget crises bringing significant political challenges across the Eurozone and beyond


The regulatory landscape is altering materially, with new agencies, mandates and leadership


Changes in supervisory approaches have further pressured boards to challenge management in ways that may blur the lines between board and management


The US economy has faltered, and the political stalemate over how to handle long-term debt and fiscal challenges has cost the country its much-prized S&P triple-A rating


Regulatory pressures have increased as more costly requirements have been imposed on systematically important financial institutions (SIFIs)

In the midst of these circumstances, the summit could not have been timelier. We hope our candid discussions with some of banking's leading influential non-executive directors will stimulate your own thinking and actions as the industry continues to evolve.

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