The head of the body that oversees global banking regulation has issued a stern warning that the world cannot afford to slip into a “complacent” assumption that the financial sector has rebounded for good.
Speaking ahead of this week's G20 meeting in Pittsburgh – when the world's leading politicians will seek to define a common direction for the future control of the sector – Jaime Caruana, general manager of the Bank for International Settlements and a former governor of Spain's central bank, said the recent market rebound should not be misinterpreted.
“It is not the right time for complacency,” Mr Caruana told the Financial Times.
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