EBA chair calls for ‘deep-rooted changes’ in bank culture
Andrea Enria says more must be done to confine episodes of misconduct to the past
Andrea Enria has warned "deep-rooted changes" in bank culture are needed to ensure episodes of misconduct are "eradicated once and for all".
Writing in the Directory of Financial Regulators 2016, the European Banking Authority (EBA) chair warns the "ingrained habits of misconduct in the banking system" have had a "huge" impact.
Litigation costs, settlements, fines and sanctions have "dragged profitability and capital down", he says, while even "impairing the resilience of some banks".
Both
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