{"version":"1.0","provider_name":"Asociaci\u00f3n Espa\u00f1ola de Banca","provider_url":"https:\/\/aeb.workingdemos.es\/en\/","author_name":"theoms","author_url":"https:\/\/aeb.workingdemos.es\/en\/author\/theoms\/","title":"Blog AEB - Asociaci\u00f3n Espa\u00f1ola de Banca","type":"rich","width":600,"height":338,"html":"<blockquote class=\"wp-embedded-content\" data-secret=\"a21vH4pN2Y\"><a href=\"https:\/\/aeb.workingdemos.es\/en\/actualidad\/te-interesa\/aeb-informa\/what-difference-20-years-make\/\">What difference 20 years make<\/a><\/blockquote><iframe sandbox=\"allow-scripts\" security=\"restricted\" src=\"https:\/\/aeb.workingdemos.es\/en\/actualidad\/te-interesa\/aeb-informa\/what-difference-20-years-make\/embed\/#?secret=a21vH4pN2Y\" width=\"600\" height=\"338\" title=\"&#8220;What difference 20 years make&#8221; &#8212; Asociaci\u00f3n Espa\u00f1ola de Banca\" data-secret=\"a21vH4pN2Y\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" class=\"wp-embedded-content\"><\/iframe><script>\n\/*! This file is auto-generated *\/\n!function(d,l){\"use strict\";l.querySelector&&d.addEventListener&&\"undefined\"!=typeof URL&&(d.wp=d.wp||{},d.wp.receiveEmbedMessage||(d.wp.receiveEmbedMessage=function(e){var t=e.data;if((t||t.secret||t.message||t.value)&&!\/[^a-zA-Z0-9]\/.test(t.secret)){for(var s,r,n,a=l.querySelectorAll('iframe[data-secret=\"'+t.secret+'\"]'),o=l.querySelectorAll('blockquote[data-secret=\"'+t.secret+'\"]'),c=new RegExp(\"^https?:$\",\"i\"),i=0;i<o.length;i++)o[i].style.display=\"none\";for(i=0;i<a.length;i++)s=a[i],e.source===s.contentWindow&&(s.removeAttribute(\"style\"),\"height\"===t.message?(1e3<(r=parseInt(t.value,10))?r=1e3:~~r<200&&(r=200),s.height=r):\"link\"===t.message&&(r=new URL(s.getAttribute(\"src\")),n=new URL(t.value),c.test(n.protocol))&&n.host===r.host&&l.activeElement===s&&(d.top.location.href=t.value))}},d.addEventListener(\"message\",d.wp.receiveEmbedMessage,!1),l.addEventListener(\"DOMContentLoaded\",function(){for(var e,t,s=l.querySelectorAll(\"iframe.wp-embedded-content\"),r=0;r<s.length;r++)(t=(e=s[r]).getAttribute(\"data-secret\"))||(t=Math.random().toString(36).substring(2,12),e.src+=\"#?secret=\"+t,e.setAttribute(\"data-secret\",t)),e.contentWindow.postMessage({message:\"ready\",secret:t},\"*\")},!1)))}(window,document);\n\/\/# sourceURL=https:\/\/aeb.workingdemos.es\/wp-includes\/js\/wp-embed.min.js\n<\/script>\n","thumbnail_url":"https:\/\/aeb.workingdemos.es\/wp-content\/uploads\/2026\/01\/engranaje.jpg","thumbnail_width":1000,"thumbnail_height":667,"description":"On the occasion of the 20th anniversary of the Annual Financial Institutions Conference, organized by UBS-Spain, I have reviewed what has happened in the European banking system over the last two decades. In this time we have gone through an unprecedented crisis, in which the euro, but also banks have behaved better than expected. The world is very different now. With tons of very complex regulation and new competitors who are free of these regulatory burdens. This may encourage capital arbitrage and the shift of risks to the unregulated shadow banking, including fintechs and bigtechs."}