Summary of Banking in a Challenging Environment

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The global financial system should be based on trust. However, scandals and risk management failures have shaken the public’s confidence in the industry. Participants discussed this, among other challenges, at the October 2012 OECD Financial Roundtable. In this brief article, OECD economist Gert Wehinger reports on those discussions. Though his text reads like the minutes of a meeting and lacks depth, getAbstract believes it is a helpful overview of the current thinking among bankers, regulators and consumer advocates on the need for financial reform.

In this summary, you will learn

  • What threats banks face;
  • What regulators, bankers and consumer advocates want from financial reform; and
  • How to regain public trust in finance.
 

About the Author

Gert Wehinger is a senior economist at the OECD Directorate for Financial and Enterprise Affairs.

 

Summary

The October 2012 OECD Financial Roundtable explored issues threatening the stability of the financial sector. Financial crises and a string of scandals, such as LIBOR fixing and rogue trading, have weakened investors’ confidence. Re-establishing consumer faith is crucial but complicated and calls for...

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