Introduction
The ongoing post-financial crisis debate on banking reform has seen greater focus on bank business models. The universal banking model, alongside other bank models, is under scrutiny, principally as a result of losses suffered by many banks during the crisis. This has driven comprehensive reforms seeking to make individual institutions and the financial system as a whole more resilient – with concerns about banks being "too big to fail" (TBTF) emerging as a key driver of the political and regulatory agenda.
