Standards such as Basel III will not address good day-to-day risk management within banks, or the lack thereof, including strategic risks that banks undertake in pursuit of return on equity demands from shareholders who often have a short term view of the world.
And of course Basel III only covers banks and therefore the financial system as a whole will remain vulnerable until we have regulations in place for the system as a whole. I wish you a successful conference and hope that you will be able to take away useful insights to help you navigate the challenging environment. Thank you. 6  BIS central bankers’ speeches