Regulators worldwide have intentionally pushed through policy reforms to increase the price of financial services, most notably the cost of financial intermediation, a senior central banker has said. Guy Debelle, assistant governor at the Reserve Bank of Australia, told an industry forum that increases in the cost of financial services were not an "unintended consequence" of regulatory reform but rather a key part of the policy agenda. He said regulators had sought to increase the cost of financial intermediation in particular to reflect the risks involved, including liquidity risk and counterparty risk. Debelle is influential in international central banking circles due to his role as chair of the Bank for International Settlements' Markets Committee and of the Executives' Meeting of East Asia-Pacific Central Banks (EMEAP) Working Group on Financial Markets. He also sits on the BIS' Global Financial Stability Committee. Dislocation The Australian central banker said that before
↧