Top 100 survey emphasises role of regulation: editorial
Fines are driving up op risk losses, and the pace of prosecutions is not slackening
This year's Top 100 Banks list is striking for the picture it shows of the continuing rise of the Chinese economy – for the first time, a Chinese bank, Industrial and Commercial Bank of China (ICBC), is the largest in the world, beating JP Morgan and Bank of America in Tier I capital terms. But it also emphasises the weight that regulators and central banks carry – weight that they are not shy to throw around if necessary.
Case in point: the People's Bank of China. Last month, to the great
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