Towards a new banks’ role: after the dominance of finance, a difficult comeback to risk monitoring

It is desirable to limit the negative effects of the originate to distribute model on the efficiency of risk management, considering also its positive aspects. The recent EU initiatives aim to refocus banking activities to practices more attentive to the needs of the production system and to the tendency of investors to hold financial assets characterized by a low level of risk/return. The expected changes of regulatory and prudential framework will produce effects only and when they could influence the organization of intermediaries, and to change attitudes and culture of top management.