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Conflicts of interest and systemic risk
The financial crisis has uncovered many conflicts of interest. All of these concern regulators who are duty-bound to protect the taxpayer against malpractice. But it is now clear that some should seriously concern central bankers, as they potentially present a threat to financial stability. The auth...
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| Published in: | Central Banking 2010-11, Vol.21 (2), p.81 |
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| Format: | Article |
| Language: | English |
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| container_issue | 2 |
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| container_title | Central Banking |
| container_volume | 21 |
| creator | Chown, John |
| description | The financial crisis has uncovered many conflicts of interest. All of these concern regulators who are duty-bound to protect the taxpayer against malpractice. But it is now clear that some should seriously concern central bankers, as they potentially present a threat to financial stability. The author shall look at various types of malpractice from this point of view and suggest what might be done to resolve them. There are two main types of malpractice. First, there is mis-selling by a business, or its employees, in an attempt to profit at the expense of its customers. Second, there is fraud perpetrated on a company by its controllers. Central bankers must look more closely at the growth of unsound practices. An obvious indicator of this is often excess profit. If banks are really making excess profits, there may be no problem. |
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But it is now clear that some should seriously concern central bankers, as they potentially present a threat to financial stability. The author shall look at various types of malpractice from this point of view and suggest what might be done to resolve them. There are two main types of malpractice. First, there is mis-selling by a business, or its employees, in an attempt to profit at the expense of its customers. Second, there is fraud perpetrated on a company by its controllers. Central bankers must look more closely at the growth of unsound practices. An obvious indicator of this is often excess profit. 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All of these concern regulators who are duty-bound to protect the taxpayer against malpractice. But it is now clear that some should seriously concern central bankers, as they potentially present a threat to financial stability. The author shall look at various types of malpractice from this point of view and suggest what might be done to resolve them. There are two main types of malpractice. First, there is mis-selling by a business, or its employees, in an attempt to profit at the expense of its customers. Second, there is fraud perpetrated on a company by its controllers. Central bankers must look more closely at the growth of unsound practices. An obvious indicator of this is often excess profit. If banks are really making excess profits, there may be no problem.</abstract><cop>London</cop><pub>Incisive Media Limited</pub></addata></record> |
| fulltext | fulltext |
| identifier | ISSN: 0960-6319 |
| ispartof | Central Banking, 2010-11, Vol.21 (2), p.81 |
| issn | 0960-6319 |
| language | eng |
| recordid | cdi_proquest_reports_862095871 |
| source | ABI/INFORM Collection |
| subjects | Central banks Conflicts of interest Economic crisis Efficient markets Financial institutions Institutional investments Merchant banks Privatization Profits Regulation Stabilization |
| title | Conflicts of interest and systemic risk |
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