Open AccessGoverning Banks: A British Perspective
Author(s) -
Andy Mullineux
Publication year - 2011
Publication title -
s and p : sound and pictures
Language(s) - English
Resource type - Journals
ISSN - 1675-722X
DOI - 10.32890/ijbf2011.8.2.8422
Subject(s) - corporate governance , accounting , context (archaeology) , business , shareholder , government (linguistics) , financial crisis , perspective (graphical) , financial system , economics , finance , paleontology , linguistics , philosophy , macroeconomics , artificial intelligence , computer science , biology
This conceptual paper considers the corporate governance of shareholder owned deposit taking banks in light of the Global Financial Crisis (GFC). Deposit taking banks present a special corporate governance problem because depositors (and taxpayers) are stakeholders. The GFC revealed significant weaknesses in the regulation and corporate governance of banks. The UK government commissioned the Walker Review of the corporate governance of UK banks in February 2009. Its recommendations are discussed in the context of the wider governance (including regulation) of banks. Regulation and corporate governance systems should focus on the establishment of effective internal risk control mechanisms and the good management of banks.