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The turmoil and the financial industry: Developments and policy responses

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  • Gert Wehinger

Abstract

The situation in financial markets deteriorated over the past year, but government actions have helped to avert an even bigger crisis. While some signs of recovery are on the horizon, the banking sectors in many countries are not yet on solid footing. Recent government programmes that deal with banks’ ‘toxic assets’ are welcome in this regard. But further reaching financial sector reforms such as those recently endorsed by the G20 leaders and proposed in Europe and the United States are necessary in order to establish a sound financial system.

Suggested Citation

  • Gert Wehinger, 2009. "The turmoil and the financial industry: Developments and policy responses," OECD Journal: Financial Market Trends, OECD Publishing, vol. 2009(1), pages 29-60.
    • Handle: RePEc:oec:dafkad:5ksgjzplz8wf
    DOI: 10.1787/fmt-v2009-art2-en
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