Dombret calls on German banks to ‘embrace new risk culture’
Bundesbank official says banks must be prepared for the unknown
Andreas Dombret, a Deutsche Bundesbank executive board member, called on German banks to "embrace a new risk culture" yesterday, and set out four 'tests' for assessing the progress they make.
Speaking at the Bundesbank's conference on financial stability in Berlin, Dombret said the change in culture was necessary to prepare banks for "hitherto unknown dangers, uncertainties we may not even know exist".
He outlined four tests for assessing the "soundness" of banks' risk culture: including the
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