Описание
Greater competition and diversity in lending, payments, insurance, trading, and other areas of financial services can create a more efficient and resilient financial system.
Notwithstanding these clear benefits to financial stability, heightened competition could also put pressure on financial institutions’ profitability. This could lead to additional risk-taking among incumbents in order to maintain margins. Moreover, there could be new implications for financial stability from BigTech in finance and greater third-party dependencies.
While markets have developed differently across jurisdictions, there are commonalities that warrant international discussion. While these commonalities may be global in scope, their impact on each jurisdiction depends on the state of development of the financial services industry and the regulatory environment.