It is vital to deliver on our promise to increase the voice and participation of low-income countries. For the Fund to be relevant to all its members, it is important to achieve a further shift in quotas from over-represented to under-represented countries as defined by the quota formula.
But regulation and supervision are only one side of the coin. If we want the banking system to become a safer place, banks managers’ behaviour will also play an important role. What we need is a change of culture. The times of “greed is good” should be long gone.