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Watch on the Rhine – Anyone paying attention?

June 28, 2011
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At the end of last week, McKinsey & Company released the results of a survey conducted in May of this year with financial-services executives representing a wide range of banking and financial institutions.  Titled Assessing banks’ confidence after the crisis’, it can be downloaded at (www.mckinseyquarterly.com/Assessing_banks_confidence_after_the_crisis_McKinsey_Global_Survey_results_2825).

In the words of its authors, the survey demonstrates ‘a mostly positive view on banking—and some signs of industry complacency.’ It is well worth reading for its many insights, particularly regarding apparent complacency.

I am most struck by the lack of concern and urgency relating to Basel III regulation.  Only half of the respondents stated that new regulations would have more than a marginal impact on their institutions’ future growth and profitability.  Nearly a fifth said that their top management still spends the same amount of time on regulatory strategy as they did prior to 2008.  Anyone paying attention?

by Kurt Muller

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