In seeking to do this, it is critical that banks understand the distinction between seeking people’s trust and actually establishing trustworthiness through their culture. If banks wish to restore trust in their organisations, it must be earned. Culture is, of course, a matter for each individual bank in the first instance, and no two cultures will be precisely the same.
It is globally recognised that regulators cannot prescribe culture for individual firms. However, supervisors can monitor and assess culture within firms, and intervene as required, in order to guard against conduct and prudential risk and ensure firms are 3/7  BIS central bankers' speeches  financially resilient, well managed and deliver fair outcomes for consumers.