In a June 2023 speech, Andrea Enria, then Chair of the Supervisory Board of the European Central Bank, argued that last year's bank failures had made clear that supervisors must increase their efforts to ensure that banks have sound internal governance and risk management. "Well-run banks don't fail," Enria insisted.1 [See also the In Focus article An Interview with Andrea Enria]
"Failures in this area are the common theme underpinning recent events in the United States and Switzerland, and they have also been the core theme of many past crises," Enria said. "In my view, this is the one priority area that both banks and supervisors should be focusing on."
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