The launch of the Asean Economic Community on January 1 represented the next stage of the economic grouping's integration, and stands in stark contrast to the EU's progress.

Regulators are increasingly mistrustful of banks using internal models to calculate their capital requirements, but the alternatives are not trouble-free.

While the EU must address the immediate threat of a Brexit, issues more fundamental to its existence remain unresolved.

Regulatory constraints on bank balance sheets may result in reduced market liquidity, but regulators are willing to pay that price to build more resilient financial institutions.

Worries over China's economy would abate if market authorities communicated better and avoided overzealous interventions. And, for their part, investors should keep their cool when faced with less-than-stellar growth figures.

Technology and markets may change, but the model for sound banking is still based on the same tenets as when our magazine was founded.

Strengthening EU equity and venture capital markets is a valuable idea, but its success will still depend on a change in investor attitudes and a reduction of sovereign risks.