By Neil Roland ( May 26, 2026, 19:42 GMT | Insight) -- Early intervention by bank supervisors is essential to heading off the kind of systemic failures that occurred in 2023, said Pablo Hernandez de Cos, general manager of the Bank for International Settlements. The root causes of these banks’ collapse were mostly qualitative, such as poor governance, weak management and unsustainable business models, he said. “A key lesson from the 2023 episode is that a purely rules-based approach is unlikely to appropriately identify, assess and mitigate key risks to a bank's safety and soundness and broader financial stability in a timely manner,” Hernandez de Cos said..Early intervention by bank supervisors is essential to heading off the kind of systemic failures that occurred in 2023, said Pablo Hernandez de Cos, general manager of the Bank for International Settlements....
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