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Stock impact report

Banks’ compensation models need work: FSB [Investment Executive - News]

First Citizens BancShares, Inc. - Class A (FCNCA) 
Despite a focus by global regulators on preventing compensation models from encouraging excessive risk taking in the financial industry, recent turmoil in the banking sector suggests more work needs to be done, according to a new report from the Financial Stability Board (FSB). The FSB report said the failure of several U.S. banks, and the forced marriage of Swiss banking giants, Credit Suisse and UBS, in early 2023, highlighted one of the central lessons of the financial crisis — that bankers’ pay needs to be “aligned with prudent risk-taking.” In particular, the collapse of Silicon Valley Bank and Credit Suisse underscored the importance of principles designed to separtate compensation models from risk taking, the report said. Compensation tools are central to preventing misconduct by providing incentives for good conduct in the first place, and by creating mechanisms to ensure accountability by enabling banks and regulators to remediate bad behaviour that’s uncovered after the f Show less Read more
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