Transformation of modern financial institutions are on the background of dynamic changes in society. New perspectives on social standards and values require a broader look at the problem of compromise between the market mechanism in the financial sector and financial stability. The authors attempt to justify the key trends of the banking sector, as part of the financial markets, and identify some problematic consequences of such trends, which requires to be addressed in the short term.

Keywords: globalization, banking, financial markets, financial conglomerates.