Self-regulation has its limits: France’s Noyer
The crisis has highlighted the limitations of self-regulation, said Christian Noyer, the governor of the Banque de France.
Noyer said it was also essential that the regulation of all systemically important institutions and markets be proportional to their potential impact on financial stability. He said, however, in order to implement such an approach, agreement needed to be reached at the international level on a standard definition of the systemic nature of an entity.
He made the comments on 1
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