Sants: liquidity problems giving way to economic slowdown

All the UK's major banks have "credible and effective funding and liquidity plans" to cope with curr...

All the UK’s major banks have “credible and effective funding and liquidity plans” to cope with current market conditions, according to FSA chief executive Hector Sants. Speaking at yesterday’s IMA AGM dinner, he also called on financial firms to examine their incentive structures to ensure employees do not receive immediate reward without bearing the consequences of losses. “Firms should focus on minimising this risk by ensuring, as far as possible, the structures ensure employees and shareholders both share in the risk, in the upside and the downside,” he added. “There are various w...