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Implementing A New Culture of Risk Management

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Executive Summary

In response to high profile failures and in anticipation of increased regulatory pressure, many financial institutions quickly embark on various programs to strengthen their approach to liquidity risks. However, a mere additional layer of systems and processes on top of existing asset liability and exposure measurement structures is likely to create more confusion than sound risk management. Regulators, in their haste to reassure the public and the policy makers, may also further confuse the matter as they face the daunting task of establishing norms whereas risk mitigation only comes from diversity

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