Everyone seems frustrated with the progress of reforming the global financial system. We, heads of the six major Canadian banks, say: bring it on. We all agree the need to pick up the pace - but also to focus on the real issues.
Bankers see significant change and uncertainty around mooted reforms. But the general public is increasingly frustrated about the lack of action.
To this end, policymakers should concentrate on addressing the main causes of the financial crisis. There were three issues: first, excessive leverage in the banks and investment dealers. Second, a lack of common standards for the quality and level of capital. And third, weakness in risk and liquidity management.
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