Caruana favours flexible supervisory tools over constant regulatory reform
BIS head considers how to cope with financial market innovations
Instead of "constantly tweaking" regulatory frameworks to deal with changes in the financial system, policy-makers should deploy "complementary and flexible" supervisory tools to fill in the gaps, according to the Bank for International Settlements (BIS) general manager.
Jaime Caruana told an audience in Montevideo on October 28 that some limitations on regulation stem from financial market innovations, and it can be difficult to keep up. "Attempts to catch up with a continuously adapting
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