The global financial system needs both more market discipline and more regulation and should eventually reach a stage where no banks are too big to fail, according to Stephen Cecchetti, head of the monetary and economic department at the Bank for International Settlements (BIS).
Setting out his priorities for financial reform during a speech in Frankfurt today (October 30), Cecchetti said there should come a time when the Financial Stability Board's list of global systemically important financia
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