As another year of uncertainty and disruption draws to a close, our Baker McKenzie Financial Institutions lawyers look ahead at the potential disruptors impacting the industry in 2024, all against a background of economic and geopolitical risk.
Our report, 2024: What’s on the Radar for Financial Institutions?, gives an overview of the challenges facing the sector, drawing on our three risk radars, one for each of the forces that are transforming the financial sector.

Cross-border lending in Asia Pacific continues to grow steadily despite external factors such as COVID-19. While the region is not immune to external factors, borrowing volumes for financial institutions, credit funds and other market participants remain high in Asia Pacific. Considering the demographics of many of the nations, the various financial centers and many market participants investing more substantially in some of those financial centers, we remain optimistic that lending activity across Asia Pacific will continue to grow.

In July of 2017, Andrew Bailey, the chief executive of the UK Financial Conduct Authority (FCA), announced in a speech that after 2021 the FCA would no longer use its power to compel panel banks to submit rate information used to determine the London Interbank Offered Rate (LIBOR). Mr. Bailey encouraged the market to develop robust alternative reference rates to replace LIBOR.

In July of 2017, Andrew Bailey, the chief executive of the UK Financial Conduct Authority (FCA), announced in a speech that after 2021 the FCA would no longer use its power to compel panel banks to submit rate information used to determine the London Interbank Offered Rate (LIBOR). Mr. Bailey encouraged the market to develop robust alternative reference rates to replace LIBOR.

In July of 2017, Andrew Bailey, the chief executive of the UK Financial Conduct Authority (FCA), announced in a speech that after 2021 the FCA would no longer use its power to compel panel banks to submit rate information used to determine the London Interbank Offered Rate (LIBOR). Mr. Bailey…

In Order No. 40-3/2020-DM-I(A) dated March 24, 2020, the Government of India (“GOI”) imposed a nationwide shutdown to curtail the spread of COVID-19 epidemic in the country. The Order issues specific guidelines on the measures to be strictly implemented by all Ministries and Departments of the GOI, and the State…