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Centre for Commercial Law Studies

London Financial Regulation Seminar – Organisational culture and bank risk

Date: 17 May 2021


This event was co-organised by the Institute of Banking and Finance Law and the Institute of Regulation and Ethics.

Katrien Morbee (Queen Mary University of London) welcomed Joel Suss (Bank of England) and David Bholat (Bank of England) as they bring together multiple unobtrusive sources of data to quantify bank culture, overcoming the limitations of survey-based approaches.

Using this data, they find robust evidence of a substantive link between culture and riskiness – banks with organisational cultures two standard deviations below the average are expected to have a c.50% increased risk of failure.

Costanza Russo (Queen Mary University of London) held the Q&A.

About the Speaker

Joel Suss is a research data scientist in the Bank of England’s Advanced Analytics division. His research focuses on microprudential regulation, in particular using non-traditional data sources and methodologies to better understand and predict bank riskiness.

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