At the recent International Monetary Fund (IMF) annual meetings in Washington DC, financial regulators voiced concern over fading support for strong regulations they believe to be essential to financial stability, as reported by Bloomberg's Laura Noonan.
Financial Stability Board Chair Klaas Knot emphasized that governments risk losing control over their policy agendas if financial stability is neglected. "You will spend most of your time drawing up rescue plans for an economy in free fall," Knot warned. Bank of England Governor Andrew Bailey echoed this, noting the "rear view mirror" effect as memories of the 2008 financial crisis fade, which could lead to a rollback in essential reforms.
This content is available to paid Members of Starling Insights.
If you are a Member of Starling Insights, you can sign in below to access this item.
If you are not a member, please consider joining Starling Insights to support our work and get access to our entire platform. Enjoy hundreds of articles and related content from past editions of the Compendium, special video and print reports, as well as Starling's observations and comments on current issues in culture & conduct risk management.
Join The Discussion
Sign in and be the first to comment.