king in a far harsher light Several top banks are under investigation for rigging key interest rates HSBC has been fined for allowing moneylaundering and Standard Chartered has been penalized for dealing with Iran.
Even Dimons own bank has suffered an embarrassing 6 billion trading loss on complex derivatives. All of which has only given ammunition to the critics who say banks are too loosely regulated too unethical and still so large that their collapse would threaten the economy. Governments and regulators have moved to clamp down on banks and their risky practices since 2007. In the United States legislation known as DoddFrank seeks to avoid taxpayerfunded bailouts of banks by barring them from engaging in risky trading on their own account. The European Union is considering proposals to have banks separate their riskier investment banking operations from the rest of their business. Meanwhile the British government is moving toward a different proposal to require banks to ringfence their retail banking within their organization. Beyond that banks are also being required to hold more financial padding against possible losses through an international agreement known as Basel III. However the push to regulate leaves many dissatisfied. Critics of the banking industry claim that some of the new measures such as requirements to hold capital buffers against losses were in fact around ahead of the 2007 crisis but were ineffective as banks found ways around them.
Banks themselves agree that the capital measures are needed but they are concerned that because these new rules are often being imposed on a national or regional basis they can overlap for banks that do business in more than one country. And there is no one global standard that would level the playing field and prevent banks from simply moving their operations to places that allowed highrisk practices.
Plus the increased costs involved in following the new rules will hit profits and could even shrink the availability of credit. To add to the mix the Basel III rules which have been accepted by both bank critics and bankers will not come into effect until 2019.
That sense of dissatisfaction about the state of banks and the attempts to regulate them burst through during the Davos global finance panel. Min Zhu the deputy managing director of the International Monetary Fund said the banking industry was still too big compared to the size of the global economy. Min also warned that other financial organizations such as hedge funds are playing a toolarge toolittle regulated role known as shadow banking where risky practices that could cause a crisis remain beyond a regulators reach.
All the debate going on and the financial sector has not changed very much. Were not safer yet. Five years on we are still debating whether we have too much or too little regulation he said. 금융권은 갈 길이 멀다고 말하고 싶습니다. 스위스 은행 UBS의 악셀 베버 회장과 전 게르마니 중앙은행장은 세계 감독당국이 은행이 너무 크다는 것을 분명히 결정했다고 덧붙였습니다.
Dimon은 은행들이 제기하는 위험에 대한 엄청난 잘못된 정보에 대해 불평했고 감독당국이 너무 많은 관련 기관들에 너무 많은 돈을 쏟아 붓고 있다고 주식 말했습니다. 너무 많은 것을 너무 빨리 하려고 했어요라고 그가 말했습니다.
모든 사람들은 그것이 시스템을 붕괴시킨 하나의 것이라고 생각합니다. 자본 요구사항에 대해 회의적인 한 사람은 보스턴 대학의 금융학 교수인 에드워드 J.
케인입니다. 그는 큰 은행들이 순환하는 방법을 찾을 것이라고 믿습니다.