The Consensus on Private Banks

I think the consensus we had at least until now was that the best model is to have private banks, but you regulate them in such a way that they don't take too much risk. But I think this case is getting weaker over time and the fundamental business model of banks is a bit less clear today than it used to be. So there are many reasons why maybe society could rely less on banks today than itused to. For macroeconomic reasons. Maybe maturity transformation is less important today than it was. Also banks, you know, do a lot of activities combined. Nowadays with the internet, you can break down banking services into many different subcomponents. You could have someone doing