MAS chairman calls for shift away from structural reform


Tharman Shanmugaratnam, Singapore's deputy prime minister and chairman of the Monetary Authority of Singapore, has called for governments, central banks and regulatory authorities around the world to shift their focus away from structural reform in the financial system.

Shanmugaratnam said in a speech in Singapore on August 21 that structural reform is being overemphasised as the solution for system risk and is overshadowing the need for reform in the culture of banking and finance, and in the w

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