Awaiting the Will to Ensure Financial Market Stability

Paul Tucker, chair of the Systemic Risk Council (sponsored by CFA Institute) and former deputy governor for financial stability at the Bank of England, says that financial markets are still facing serious stability risks. In a conversation with Yale SOM’s Andrew Metrick, director of the Yale Program on Financial Stability, Tucker said it’s time for central banks to “break the back of this excess leverage psychology which grips our financial markets.”