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 whose reliability has been duly tested, and its application overseen by departments possessing

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