1. The day after tomorrow A PwC perspective on the global financial crisis www.pwc.com/ro Paul Facer Partner, Assurance Services

2. PwC The seven themes have a complicated set of political, economic and social interactions 2 Global power shift to East Government inside the tent Unprecedented fiscal pressure Capital, credit and liquidity vacuum Nouveau Classic banking model Pursuit of “zero risk” regulation From survival mode to sustainable strategy Need for government support Capital flows Ownership/ control Global recession Lower risks, lower returns Strategic reaction to crisis by banks Government sells banking stakes in medium term Higher taxes Cost of bail-outs Crisis eases eventually FIs adjust business models Greater cooperation between international regulators Regulatory reaction to crisis Fiscal arbitrage 15 November 2010The Day after Tomorrow

3. PwC Three key things to remember: The Day after Tomorrow 3 15 November 2010 A new world for FIs Be prepared to make tough decisions in reshaping the business model and cost base in the face of increasingly scarce financial resources Embrace all possible scenarios including those previously considered unthinkable Because of significant changes in who winners or losers may be, it is not enough to merely survive – anticipate and exploit opportunities in the new world Survive Adapt Win

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