Sir David Walker produced a report on UK bank governance last year, releasing final recommendations in November. The report's conclusions centered on greater shareholder and board engagement, including the idea that boards should challenge management proposals. "The essential 'challenge' step in the sequence appears to have been missed in many board situations," the report said. 

A report by Nestor Advisors on governance at 25 European banks concluded in May last year that most bank boards had failed in three broad areas in the run-up to the recent crisis: "The focus on risk measurement at the expense of risk identification; the failure to check excessive leverage; and the gross underestimation of liquidity risks."

Walker review.

Nestor study summary.

4 Feb 2010 -

Banking on a fair wind

26 Nov 2009 -

Walking cure

27 May 2008 -

Enter the Star Chamber

1 Feb 2008 -

There are no stupid questions