Poor corporate governance, fraudulent practices, related party transactions, poor asset quality, capital deficiency, liquidity crisis, amongst so many other factors, brought down the bank. This bank failure provided us with invaluable lessons that regulation and supervision of financial institutions cannot be taken lightly.
2  Financial Stability Board, Macroprudential policy tools and frameworks: Update to G20 Finance Ministers and Central Bank Governors, February 2011. 4  BIS central bankers’ speeches  Shortcomings in macro prudential supervision … As the importance of systemic financial stability has become apparent, questions on macroprudential policies have become highly topical. Unfortunately good answers are outnumbered by open questions.