Seeking approval

The crisis has shown that innovative products need to have a more stringent product approval process in place, but that maturing products also need to be reviewed to ensure the risk profile of the product hasn't changed. Victoria Pennington reports

Now the industry seems to be over the worst of the fallout from the financial crisis, banks are working on regaining the trust of investors and commercial customers by demonstrating their ability to provide a good return on investment, as well as ensuring greater safety and soundness of their products. Banks' portfolios of legacy products are now likely to look much leaner than they did two years ago, as products such as mortgage-backed securities and other related products all but disappear