This is primarily because regulators – despite what they may claim – effectively protect megabanks from market discipline. “Systemic importance” has become an excuse for maintaining impenetrable entry barriers (yet another reason why executives want their firms to be regarded as too big to fail).
这主要是因为监管者说一套做一套，实际上有效地保护了大银行不受市场纪律约束。“系统重要性”成为维持不可逾越的准入壁垒的接口（也是高管希望自己的公司变得太大而不能倒的又一原因）。