
CHANGE FROM PREVIOUS YEAR
TIME BARRIERS
INFORMATION
KNOWLEDGE
NEW PRODUCTS
NEW ENTRANTS
GEOGRAPHICAL BARRIERS
INTRA -INDUSTRY BARRIERS
BARRIERS TO ENTRY
348 Operational Risk Control
16.8 Capitalizing on the evolving role of financial instruments
Fundamentally, the business of banking is that of buying and selling time. This is
precisely what credit institutions do by taking deposits and giving loans; also, through
trading. However, the instruments they are using are changing over time.
‘Clothes and automobiles change every year,’ said Paul M. Mazur of Lehman
Brothers, ‘but because the currency remains the same in appearance, though its value
steadily declines, ...