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ICYMI:  In a speech from June 2022, Frank Elderson, Member of the Executive Board and Vice-Chair of the Supervisory Board at the European Central Bank (ECB), discussed how culture impacts governance and how this may be reflected in the ECB's future supervisory efforts.

According to Elderson, the behavioral patterns within an organization are the product of both individual behavior and the underlying culture that acts as a breeding ground for that behavior. He stressed the need for dialogue and the importance of closely examining the behavioral drivers of decision-making in banks.

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