Completing reform agenda may not be enough – Caruana

Policies need to tackle large stock of debt

jaime-caruana
Jaime Caruana: financial stability is a "shared responsibility"

Completing the financial reform agenda might not be enough to restore global stability, the general manager of the Bank for International Settlements (BIS) told a conference in December.

"The key areas in the regulatory reform agenda – regulation and supervision, resolution and deposit insurance – are no doubt very important, but they may not be enough," Jaime Caruana said.

He explained there was a need to tackle problems beyond the current regulatory reach, including the large stock of debt

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