Connect with us

EU

Financial actors should improve governance and restore client's confidence - #ECB de Cos

SHARE:

Published

on

We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. You can unsubscribe at any time.

Financial market participants should restore their clients’ confidence as soon as possible following governance failures, European Central Bank policy maker Pablo Hernandez de Cos said on Thursday (13 February), write Clara-Laeila Laudette and Jesus Aguado. 

De Cos, who also heads the Bank of Spain, said that while this was not really a new type of risk, the relevance of misconduct costs “became painfully clear” in the aftermath of the global financial crisis.

“If we also include the reputational costs associated with these forms of malpractice, the actual damage to the banking sector goes far beyond the standard estimates presented,” De Cos said.

Share this article:

EU Reporter publishes articles from a variety of outside sources which express a wide range of viewpoints. The positions taken in these articles are not necessarily those of EU Reporter.

Trending