Six lessons from the recent turbulence

Hermann Remsperger, a member of the executive board at the Bundesbank, outlined the lessons that have emerged so far from the turmoil that has plagued financial markets since August.

The six lessons were that:

· The current turbulence has revealed weaknesses in the originate-to-distribute model of banking;

· Market participants should not rely exclusively on extremely complex models;

· The role of ratings in the originate-to-distribute model should be reviewed;

· Banks need to build up

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