Top banks are invited to discuss proposals for a healthier financial system
The Bank for International Settlements (BIS) is gathering central bankers for a meeting in Basel amid concerns of a return to the excessive risk taking that caused the banking crisis, reported the Financial Times.
The BIS cited concerns that “financial firms are returning to the aggressive behaviour that prevailed during the pre-crisis period”.
The bank outlined several proposals for a healthier financial system including lowering return-on-equity targets for the banks as a way of discouraging such risk taking, said the FT.
The chiefs of BlackRock, Citigroup and Wells Fargo are expected to attend the meeting. The heads of Goldman Sachs and JPMorgan Chase are not planning to attend, according to the FT.