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Banking in a Challenging Environment
Chapter

Banking in a Challenging Environment

Business Models, Ethics and Approaches Toward Risks

In: OECD Journal Financial Market Trends
OECD, 2012 подробнее...

автоматическое преобразование текста в аудио
автоматическое преобразование текста в аудио

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7

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Recommendation

The global financial system should be based on trust. However, scandals and risk management failures have shaken the public’s confidence in the industry. Participants discussed this, among other challenges, at the October 2012 OECD Financial Roundtable. In this brief article, OECD economist Gert Wehinger reports on those discussions. Though his text reads like the minutes of a meeting and lacks depth, getAbstract believes it is a helpful overview of the current thinking among bankers, regulators and consumer advocates on the need for financial reform.

Take-Aways

  • Following crises and numerous industry scandals, trust in financial institutions has diminished. Regaining consumer confidence is complicated and takes time.
  • The financial services sector faces threats on several fronts, including to its operating models, its governance and its regulation.
  • Banks have already improved their risk management and are deleveraging. Shadow banking is filling the lending void but requires regulation.

About the Author

Gert Wehinger is a senior economist at the OECD Directorate for Financial and Enterprise Affairs.


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