The financial world has not even begun to extricate its banks from the rules that caused the crisis and keeps it alive

Sir, Patrick Jenkins writes: “A new era of finance feels within reach. Aided by rules that promote integrity without stifling innovation, financial institutions may finally be in a position to revive not just their own reputations but the global economy, too”, “The financial world can look beyond the crisis”, June 13.

“Aided by rules that promote integrity without stifling innovation”? Let me assure you that the pillar of current bank regulations, credit-risk-weighted capital requirements for banks do not promote integrity, and do stifle innovations.

To discriminate against the access to bank credit of those who already, by being perceived as risky, are naturally discriminated against, and favoring that of those perceived as safe, and who are already naturally favored, has nothing to do with integrity… quite the contrary.

And to thereby deny fair access to bank credit to all those perceived as risky, like SMEs and entrepreneurs, is without a doubt to stifle innovations.

This crisis is a long way from being resolved. For that the world needs to eradicate these bank regulations… those that are yet not even acknowledged.

@PerKurowski