The article discusses the need for updated banking regulations in the 21st century. It explores the history of banking regulation, current trends in the industry, and the future prospects for international banking. The researchers suggest that a new financial architecture is necessary to address the challenges faced by banks and regulators. Key topics include optimal financial regulation, market discipline for banks, and risk assessment in the banking sector. The findings emphasize the importance of reducing risks and improving governance in the banking industry to ensure stability and growth in the future.