- Banks need to ensure they can deal with shocks
- Should focus on capital rather than dividends
- Living standards squeeze has been unprecedented
- Excessive pay may damage reputations of banks in the public eye
- Not acceptable for a senior RBS banker to get £4 mln renumeration
- Focus on senior bankers pay is overshadowing bank lending arguments
- Central banks should reduce reliance on rating agencies, focus should be on sovereign debt spreads rather than rating agencies
- Market response to France’s downgrade has been “pretty muted”
- ECB has done a lot to ease intermediate pressure on Eurozone banks, but underlying problems remain
- Euro governments must deal with imbalances
- Path to steady growth will be challenging in 2012
BOE FPC Jenkins: Investors should decide renumeration of bank executives
