Since the outbreak of the financial crisis, governments and regulators have made a major effort to strengthen the system to reduce the chances of a recurrence. Much of what has been decided seems to go in the right direction and, as such, should be welcomed. But some aspects of the present reforms could have unintended negative consequences. In some cases, it is not so much the quantum of reforms that raises questions, but the thrust of the strategic choices that have been decided.
I shall try to
- BoE revamps expenses rules after criticism from MPs
- Draghi warns of downside risks as ECB ends net asset purchases
- Book notes: Macroprudential policy and practice, edited by Paul Mizen, Margarita Rubio and Philip Turner
- Central banks turn to visual communication in 2018
- Five central banks and supervisors join environmental group