Mark Carney, governor of the Bank of Canada called on banks to take a longer-term view with recent profits during a speech in Montreal today.
The "windfall" being experienced by banks draws from "the strongest of safety nets", and the choices banks have made in disbursing their profits reflected that short-term outlook, he argued. "Do firms really have a good handle on their medium-term profitability, given the profound regulatory and economic changes on the horizon?" Carney asked.
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