Nearly five years since the onset of the financial crisis, the
public continues to ask if anything has changed at large financial
institutions to strengthen business standards and practices.
Certainly, the financial system is safer and more resilient.
Financial institutions hold significantly more capital and they have
materially reduced their holdings of illiquid assets and their gross
leverage. Important regulatory reforms are being implemented with
respect to capital, liquidity, recovery and resolution and other
But, amid these changes, many in the public worry about whether
financial institutions have reviewed and made improvements in how they
conduct themselves, communicate and manage their responsibilities to
their clients and fulfill their obligations to the health of the
This report represents our priority and continuing commitment to
communicate with our clients, shareholders, other stakeholders,
regulators and the broader public about the changes we have made – and
continue to make – and their impact in making us a better firm.
Read the BSC Impact Report