10 Bank governance: perceptions from experience Warren Hogan and Rowan Trayler Introduction This chapter examines provisions about governance in Australian banking and related activities in light of past experiences. Most attention is given to the provisions for corporate governance laid down by the Australian Prudential Regulation Authority (APRA) and recommendations from the Basel Committee on Banking Supervision as well as commentaries from oﬃcers associated with those entities. The latter segments are directed to an appraisal of requirements in light of experiences of banking activities during recent decades. Bank governance has been of major interest ever since the introduction of internationally-agreed capital requirements, referred to as Basel I, under the auspices of the Bank for International Settlements in 1988. During the past decade this focus was heightened by the failure of Barings Bank in early 1995 and Long-Term Capital Management in 1998. Governance issues have long been a focus for all corporate activities. So much so that in recent years the implementation of measures to comply with legislative provisions and listing requirements on securities exchanges has become a major issue for boards and management of companies. The importance of these concerns has been sustained by the results of a recent survey of perceptions of risk management across corporate entities in Australia and New Zealand (Aon, 2007). The latest survey for 2006–07 shows issues related to corporate governance as the most important concern for risk management as was also the position the previous year, 2005–06. The analyses of issues...
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