BoJ paper challenges FSB governance style


A discussion paper published by the Bank of Japan (BoJ) today (January 21) questions whether the ‘new governance' approach of the Financial Stability Board (FSB) is effective at delivering solid regulation, and says the model should not be an "untested and unchallenged article of faith".

Author Annelise Riles defines the new governance approach as having three key elements: learning by doing; a recognition of the need to occasionally revise regulation; and "humility" about the extent to which

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