On the other hand, an important question is whether effective and autonomous corporate governance is compatible with public ownership of banks. The question arises  4  BIS central bankers’ speeches  because publicly owned banks render accountability to the government and to the democratic institutions. The government judges them on criteria quite different from those used by the market.
How can we resolve this dilemma? Is it possible to stay with public ownership but still give near total autonomy to the boards? Is it, in particular, possible to cede the power to appoint the CEO to the board, but make the board accountable to the government and the shareholders for the performance of the bank?