Each firm was looking over its shoulder at the others and reluctant both to miss out on a seemingly profitable growth business and fearful of the shareholders’ reaction to declining market share.
We are working with financial institutions to ensure that they improve their riskmanagement and capital planning practices, and we are also improving our own supervisory processes in light of key lessons learned. Of course, we are also committed to working with the other banking agencies and the Congress to ensure a strong and stable financial system. 8  BIS Review 126/2009