In a speech delivered at the Frankfurt School of Finance & Management late last month, Claudia Buch, Chair of the Supervisory Board at the European Central Bank (ECB), warned that misaligned incentives in banking impose high costs on society and that strong governance and supervision are essential to preserve trust and resilience.
“Preserving resilience and trust in the banking sector is important because the environment in which banks operate remains challenging,” Buch said. “Trust is indeed a key asset for banks. Its value depends on the incentives banks have to act in the best interests of different stakeholders and to pursue sustainable, long-term business models.”
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