The economic consequences from the pandemic, aggravated by global tensions resulting from the Russian-Ukrainian conflict, pose new challenges for banks: the new environment – with strong uncertainty for economic growth around the world – is expected to have significant impacts on banking operations, both in the short and medium to long term. This paper moves from the recent regulatory and supervisory measures, and from the analysis of recent impacts on Italian banks and the main strategic and management choices adopted. We consider the possible scenarios and the main economic, financial and capital effects on strategies, on the rethinking of the regulatory and supervisory approach and on the link between the real economy, sovereign risk and the stability of the financial sector.
