Standards of risk governance have improved at Europe’s 25 biggest banks, but many boards are still failing to send management a clear message on the level of risk they can take, according to a new report.
Boards are more involved in approving risk appetite than they were before the financial crisis, but only 64 percent formally approved their firm’s risk appetite, up from 56 percent in 2007, according to Nestor Advisors, a governance consultancy.
