cash,  BIS Review 148/2007  1  was as expensive as it is in today’s market notwithstanding the above injection of liquidity by central banks! •  The issue of home – host supervision comes back as a boomerang with every new crisis in the banking sector.
This is especially important as in times of “creative destruction” – to use Joseph Schumpeter’s classic phrase in his theory of economic innovation – new ideas, new constructs and new expectations emerge. And this, in turn, makes the role of new generation managers in these institutions more demanding than that of bankers of yesteryears.