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Banks must nourish sound risk culture, Spanish central bank chief urges

MADRID -- Banks must have a sound risk culture to complement a good corporate governance structure, Bank of Spain governor Jaime Caruana said in June.

Such a culture should infuse the design and workings of a bank and its management criteria, systems and methods, Caruana told the annual meeting of the governing council of the Spanish central bank.

The culture should be founded on control procedures

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