![]() This crisis has provoked a resurgence in the Tobin tax, now redefined as a financial transactions tax (FTT). The financial crisis of 2008, resulted to a large extent from unsuitable practices by the financial sector and had grave consequences for the economies of many countries. They proposed using the revenue from the tax for social purposes: as a driver for development a view that Tobin did not share. They even set up a group to demand the introduction of the tax ( ATTAC) which, though starting out from Tobin's original idea, went far beyond it. Tobin's proposal never caught on, and not until more than 20 years later (in the early 2000s) was this concept revived, by anti-globalization movements who considered the free circulation of capital a destabilizing factor in democracy. How? Through rapid internal communication and training of employees, and not just employees working in the Risk division. As part of this policy, one key feature that has associated BBVA with proper risk management is the dissemination of risk culture among its employees. The BBVA target: to increase this number.īBVA favors a solid model where the principles of prudence, anticipation and diversification are essential factors. 5,000 employees have obtained a risk management training certificate over the last twelve months. ![]() ![]() How does a major bank prepare for proper measurement of risks? In the case of BBVA, training is an essential part of the process. ![]()
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