Banks [in Europe] have successfully managed through two “black swan” events in two years, underlining their resilience. But their role in the economy continues to be eroded by new entrants, including lesser regulated FinTechs, BigTechs and private equity. Net-zero frameworks in some jurisdictions are already placing new demands on banks in term of lending, compliance, disclosure and capital. Could the post-Global Finance Crisis regulatory regime be enhanced to ensure a financial system better positioned to power economic growth?