Quarterly reporting puts unreasonable pressure on CEOs and senior leadership teams to perform in the short-term when they need to be more focused on the longer term, according to David Gonski AC, Chancellor of UNSW Sydney.
Profit incentives might prevent banks following the lead of the Reserve Bank when it next cuts rates.
A series of UNSW workshops on the regulatory issues surrounding the Libor scandal will culminate in a major international meeting to coincide with November’s G20 Leaders Summit in Brisbane.
The big banks are playing a controversial game by moving interest rates independently of the Reserve Bank, and should be subject to an excess profits tax, argue four prominent UNSW economists.
Australia's banks should be made to contribute to a fund to ensure their long-term stability and help prevent any future financial disaster, says finance law professor Ross Buckley.
The Reserve Bank Deputy Governor has told a conference hosted by UNSW that banks can no longer use borrowing costs to justify oversized rate rises.