The post Great Financial Crisis regulatory reforms have largely met their objectives of ensuring the prudential soundness and stability of banks. Since then, new entrants have radically transformed the competitive landscape in financial services, helping to drive innovation and opportunity but also creating new risks and challenges. At the same time, the green transition is placing new demands on banks. How can authorities maintain the competition, vibrancy and soundness that is critical to the financial system and ensure fair and balanced playing field? What is the best way to ensure competition, foster the green transition and better serve businesses and people?